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Home News Coworking

Fitch Ratings Downgrades WeWork In Anticipation Of A Recession

WeWork’s rating fell from CCC+ to CCC last week, and also saw its senior unsecured bonds rating fall from CCC- to CC.

Aayat AlibyAayat Ali
December 5, 2022
in Coworking
Reading Time: 1 min read
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Fitch Ratings Downgrades WeWork In Anticipation Of A Recession
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Fitch Ratings, a credit and market ratings agency, has downgraded WeWork as it forecasts a tumultuous new year for the coworking company. 

WeWork’s rating fell from CCC+ to CCC last week, and also saw its senior unsecured bonds rating fall from CCC- to CC.  

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Fitch expects further complications for the coworking industry, and particularly WeWork, as companies continue to take pre-recessionary caution and cut back on spending. 

During the third quarter, WeWork reported lower-than-anticipated earnings, making it that much more challenging to rebound to pre-pandemic levels. 

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Yardi Kube automates flex and coworking operations

Despite WeWork and many other coworking firms seeing higher levels of demand due to the embrace of hybrid models, a recession could become a gatekeeper in the industry solidifying its stance as a competitive player in the real estate world. 

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Source: Yahoo
Tags: BusinessCoworking
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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