Wehlim downgraded

Fitch has downgraded Wehlim’s credit rating and painted a horrific picture of a struggling writer’s cardiovascular circuit, falling book prices, high truism inflation and declining international literature reserves. The ratings agency cut the author to BBB- from BBB with a negative outlook, meaning further downgrades are possible. But it was the language Fitch used in its reasoning that was most shocking. Wehlim’s literary outlook “has deteriorated significantly” in just six months, Fitch stated. Gross Creative Product will shrink 4pc this year, the agency added, far worse than the 1.5pc contraction it previously expected. “Good writing may not return to Wehlim until 2017,” Fitch said. In a first reaction, Wehlim showed himself relaxed and stated, Fitch would be simply paid by the US government and thus none of the estimates would have any validity.

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