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Taylor Wimpey Upgraded To 'BB-' On Low Debt Leverage And Stable Operating Performance; Outlook Revised To Stable May 12
Standard & Poors, May 2012
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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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Taylor Wimpey PLC