S&P puts Kaufman & Broad on negative watch

Standard & Poor's said it placed Kaufman & Broad SA's long-term BB+ corporate credit rating and BB senior unsecured credit rating on CreditWatch with negative implications following the placement of parent company KB Home's BB+ corporate credit, senior unsecured and subordinated debt ratings on CreditWatch negative. KB Home owns 49% of Kaufman & Broad's capital and has 67.5% of voting rights.

If the ratings on KB Home are lowered, the ratings on Kaufman & Broad are likely to be capped by those on the parent, S&P said.

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