S&P: Ashton Woods unaffected

Standard & Poor's said its corporate credit rating, debt ratings and stable outlook on Ashton Woods USA LLC (B+/stable/-) are not immediately affected by the company's fiscal fourth-quarter 2007 results and weaker operating trends.

S&P said Ashton Woods was profitable in the quarter and fiscal year ended May 31, and key credit metrics remain adequate for the B+ credit ratings, but that challenging market conditions continue to negatively affect orders and profitability, which has in turn weakened interest coverage.

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