KB Home amends revolver, allowing for reduction to earnings to interest expense ratio

By Sara Rosenberg

New York, Aug. 22 - KB Home amended its revolving credit facility, allowing for the reduction of the consolidated earnings to consolidated interest expense ratio for a period of up to nine consecutive quarters, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

During the ratio reduction period, revolver pricing, the unused fee, and the required minimum ratio of consolidated total indebtedness to consolidated net worth are subject to adjustment.

The amendment was completed on Aug. 17.

Bank of America is the administrative agent on the deal.

KB is a Los Angeles-based homebuilder.

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