Fitch lifts Taylor Wimpey debt

Fitch Ratings said it upgraded Taylor Wimpey plc's senior debt rating to B from B- and affirmed its long- and short-term issuer default ratings at B.

The agency also said it assigned a final senior rating of B to the company's £250 million 10 3/8% notes due 2015.

The outlook on the long-term issuer default rating was revised to positive from stable.

The affirmation and positive outlook reflect the successful completion of Taylor Wimpey's refinancing, a positive rating factor, Fitch said.

The company's debt restructuring will give the group greater operational flexibility and committed funding at a lower overall interest rate, the agency said.

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