Fitch rates Standard Pacific loans B-/RR4

Fitch Ratings said it affirmed Standard Pacific Corp.'s issuer default rating at B-, senior notes at B-/RR4, unsecured revolving credit facility at B-/RR4 and senior subordinated debt at CC/RR6.

Fitch also assigned a B-/RR4 rating to the company's $210 million unsecured revolving credit facility.

The outlook is stable.

The rating is influenced by the company's execution of its business model, relatively aggressive land acquisition strategy, geographic and product line diversity and healthy liquidity position, the agency said.

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

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