Moody’s rates WeWork B3, notes Caa1

Moody's Investors Service said it assigned WeWork Cos., Inc. a B3 corporate family rating, B3-PD probability of default rating and Caa1 rating to its proposed senior unsecured notes.

The outlook is stable.

"WeWork has billions in cash and deep-pocketed private equity backing, but spending on its ambitious global growth plans mean it will likely be years before there are consolidated profits or free cash flow," Moody's senior credit officer Edmond DeForest said in a news release.

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