Fitch upgrades KB Home

Fitch Ratings said it upgraded the issuer default rating of KB Home to BB- from B+.

The outlook was revised to stable from positive.

The agency said KB Home's issuer default rating is supported by the company's size, geographic diversity, customer and product focus and conservative building practices.

The company has comparable credit metrics to homebuilding peers such as M/I Homes, Inc. (BB-/stable) but weaker metrics than Meritage Homes Corp. (BB/stable), Fitch said.

However, KB Home is larger than these two competitors and is more geographically diversified, the agency said.

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