S&P revises Meritage view to positive

S&P said it revised the outlook on Meritage Homes Corp. to positive from stable, citing “Meritage’s deployment of improved operating profits into lowering its debt.”

“The outlook is positive based on our view that Meritage will continue to sustain debt to EBITDA below 3x. Over the next 12 months, we expect that Meritage will continue to expand its platform with an emphasis on entry-level product, maintain its gross margin around 21%, and further trim overall debt,” S&P said in a press release.

S&P also affirmed the BB ratings on the company and its senior unsecured debt.

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