March 19, 2020 / 7:28 AM / 11 days ago

UK builder Crest cancels dividend, draws down credit

LONDON, March 19 (Reuters) - British housebuilder Crest Nicholson cancelled payment of its final dividend along with financial forecasts for 2020 on Thursday.

The company said also it was drawing down all of its 250 million pounds ($288.70 million) credit facility to cope with the hit to business from the coronavirus-related shutdowns.

After the drawdown, the housebuilder will have 185 million pounds in available cash, along with a strong balance sheet, it said. ($1 = 0.8660 pounds) (Reporting by Patrick Graham; Editing by Aditya Soni)

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