Moody's rates William Lyon notes B3

Moody's Investors Service said it affirmed the ratings of William Lyon Homes, Inc., including its B3 corporate family rating, B3-PD probability of default rating and the B3 rating on $325 million of 8½% senior unsecured notes due 2020.

The speculative grade liquidity rating was affirmed at SGL-3.

In the same action, Moody's assigned a B3 to the company's tack-on offering of $75 million of 8½% senior unsecured notes due 2020.

Proceeds will be used for general corporate purposes, including land acquisition and development.

The outlook is stable.

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