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Prospect News home > News index > List of issuers M > Headlines for Meritage Homes Corp. > News item |
S&P gives BB+ to Meritage Homes notes
S&P said it assigned its BB+ issue-level rating and 3 recovery rating to Meritage Homes Corp.'s proposed $400 million senior notes due 2029.
The 3 recovery rating indicates an expectation of meaningful (50%-70%; rounded estimate: 65%) recovery in the event of payment default.
The company intends to use issuance proceeds to fund the redemption of all its outstanding 7% senior notes due 2022 and the remainder for general corporate purposes.
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