S&P revises KB Home outlook to stable

S&P said it revised its outlook for KB Home to stable from positive and affirmed its BB ratings on the issuer and its senior unsecured notes. The 3 recovery rating on the notes is unchanged.

“We expect lower EBITDA amid slowing housing demand to increase debt to EBITDA to the mid 2x area by the end of 2023 from 1.4x at the end of 2022 with debt to capital remaining in the 30% area,” the agency said in a statement explaining the stable outlook.

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