Fitch affirms Meritage

Fitch Ratings said it affirmed Meritage Homes Corp.'s issuer default rating at B+.

The outlook is stable.

The ratings and outlook are influenced by the company's execution of its business model, conservative land policies, geographic and product-line diversity, acquisitive orientation and healthy liquidity position, Fitch said.

While the agency said it expects somewhat better prospects for the housing industry this year, there are still significant challenges facing the housing market, which are likely to meaningfully moderate the early stages of this recovery.

Nevertheless, the company has the financial flexibility to navigate through still challenging market conditions and continue to selectively and prudently invest in land opportunities, Fitch said.

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