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S&P lifts KB Home to positive
S&P said it affirmed the B corporate credit rating on KB Home and revised the outlook to positive from stable.
The recovery rating on all of the company's senior unsecured debt remains at 3, indicating 50% to 70% expected default recovery.
The company’s performance has been stronger than expectations over the past two years, which resulted in an improvement in debt leverage, the agency said.
The agency said the company’s leverage is expected to continue its positive trajectory as the company increases its home sale volume over the next 12 months.
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