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Moody’s ups Meritage Homes, bonds to Ba2
Moody's Investors Service said it upgraded Meritage Homes Corp.’s corporate family rating to Ba2, probability of default rating to Ba2-PD and senior unsecured bonds to Ba2 from Ba3.
The speculative-grade liquidity rating was affirmed at SGL-2.
The outlook was changed to stable from positive.
Moody’s said the upgrade of the corporate family rating to Ba2 incorporates the continued positive momentum in the company's financial performance over the past several quarters. The agency expects the company's results to continue to improve in 2016 and 2017 due to its advantageous geographic footprint and reduction in debt leverage from disciplined financial policy.
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