Photo by WeWork
NEW YORK CITY–Moody's Investors Service has taken the unusual step of withdrawing its credit rating for WeWork Cos. and its seven-year $702 million unsecured bond, citing insufficient information to support the ratings.
WeWork has told reporters that it did not pay Moody's to rate its debt offering–only Fitch Ratings and S&P Global Ratings, both of which rated the bond higher than Moody's.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
