Fitch affirms, withdraws KB Home

Fitch Ratings said it affirmed and withdrew its ratings of KB Home, including the long-term issuer default rating of BB- and senior unsecured long-term ratings of BB-/RR4.

The outlook is stable.

Fitch said it withdrew the ratings for commercial reasons.

“KB Home's IDR of BB- is supported by the company's size, geographic diversity, customer and product focus and conservative building practices,” the agency said in a news release.

“The company has comparable credit metrics to homebuilding peers such as M/I Homes (BB-/stable) but weaker metrics than Meritage Homes Corporation (BB/stable). However, KB Home is larger than these two competitors and is more geographically diversified.”

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