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Fitch rates D.R. Horton notes BBB-
Fitch Ratings said it assigned a BBB- rating to D.R. Horton Inc.'s $300 million 5¼% senior notes due Feb. 15, 2015. The outlook is stable.
D.R. Horton expects to use proceeds from the new debt issue for general corporate purposes, including the repayment of existing debt under its homebuilding line of credit.
Fitch said ratings for D. R. Horton are based on the company's above-average growth during the ongoing housing expansion, execution of its business model, steady capital structure and geographic and product line diversity.
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