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S&P changes Taylor Wimpey to positive
Standard & Poor's said it revised its outlook on Taylor Wimpey plc to positive from stable.
At the same time, the agency affirmed its BB+ long-term corporate credit rating on Taylor Wimpey.
S&P said the outlook revision reflects its view that Taylor Wimpey's credit metrics have further improved, supported by strong market conditions in the U.K. housing sector. In addition, the positive outlook assumes increased stability in Taylor Wimpey's cash flow base going forward, as a result of the company's strong order book (£1.6 billion as of March 31) but also the low debt level.
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