Moody's rates William Lyon notes B3

Moody's Investors Service said it assigned a B3 rating to the $150 million of new five-year senior unsecured notes of William Lyon Homes, Inc.

In the same action, the agency affirmed all of the company's existing ratings, including its B3 corporate family rating, B3-PD probability of default rating, the B3 rating on its existing senior unsecured notes and the SGL-3 speculative grade liquidity rating.

The outlook remains stable.

Proceeds from the notes, together with cash on hand, will be used to finance the purchase 541 infill lots spread across eight projects in Orange, Los Angeles, and Santa Clara counties in California.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.