Moody's rates Toll Brothers notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to Toll Brothers Finance Corp.'s proposed $300 million senior unsecured notes due 2023.

In the same action, Moody's affirmed the Ba1 corporate family rating, Ba1-PD probability of default rating, Ba1 rating for the company's existing senior unsecured notes and SGL-1 speculative grade liquidity assessment.

The outlook is stable.

The proceeds of the notes will be used for general corporate purposes, including possible repayment of outstanding debt.

Toll Brothers Finance Corp. is the issuing entity for the senior unsecured notes of Toll Brothers, Inc. The proposed new senior unsecured notes, as well as the existing issues of senior unsecured notes, are guaranteed both by Toll Brothers, Inc. and by the latter's principal operating subsidiaries. The proposed new notes are pari passu with the existing senior unsecured notes.

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