Taylor Wimpey Upgraded To 'BB-' On Low Debt Leverage And Stable Operating Performance; Outlook Revised To Stable May 12
- ID: 2127599
- May 2012
- Standard & Poors
U.K.-based housebuilder Taylor Wimpey PLC has shown a consistent improvement in its capital structure and operating margins over the past 12 months. We are therefore raising our long-term corporate credit rating on Taylor Wimpey to 'BB-' from 'B+'. The stable outlook reflects our view that Taylor Wimpey's operating performance should continue to improve over the next 12 months. LONDON (Standard & Poor's) May 9, 2012--Standard & Poor's Ratings Services said today that it raised its long-term corporate credit rating on U.K. housebuilder Taylor Wimpey PLC to 'BB-' from 'B+'. The outlook is stable. At the same time, we raised to 'BB-' from 'B+' our senior unsecured debt rating on the outstanding -165 million senior notes due in 2015 and issued...
Companies mentioned in this report are: Taylor Wimpey PLC
Action: Outlook: Stable
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