Fitch ups Meritage Homes outlook to positive

Fitch Ratings said it affirmed Meritage Homes Corp.'s BB issuer default, senior unsecured debt and unsecured bank credit facility ratings. The ratings apply to roughly $480 million in senior notes and the $600 million revolving credit facility.

The outlook has been changed to positive from stable.

Ratings for Meritage are based on the company's successful execution of its business model, conservative land policies and geographic and product line diversity, the agency said.

Risk factors include the inherent cyclicality of the homebuilding industry, the company's aggressive, yet controlled, growth strategy and its capitalization and size.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.