Moody's gives KB Home convertibles B2

Moody's Investors Service said it assigned a B2 rating to KB Home's proposed $150 million of convertible senior notes due 2019, proceeds of which, together with a concurrent $100 million equity offering, will be used for growth capital.

In the same action, Moody's affirmed the company's B2 corporate family rating, B2-PD probability of default rating, B2 rating on the existing senior unsecured notes, P(B2) rating on the senior unsecured shelf and speculative grade liquidity rating of SGL-3.

The outlook remains stable.

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