Moody's drops Kimball Hill to D

Moody's Investors Service said it lowered all ratings of Kimball Hill, Inc. after the company filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

The agency's corporate family rating was downgraded to Ca from Caa2, its probability-of-default rating to D from Caa2 and the rating on its $203 million senior subordinated notes to C (LGD5, 88%) from Ca (LGD6, 90%).

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