Moody’s ups William Lyon, notes

Moody's Investors Service said it upgraded the William Lyon Homes, Inc.'s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD, senior unsecured notes to B2 from B3 and SGL-3 rating to SGL-2.

The outlook is stable.

Moody’s said the upgrade reflects William Lyon's strong revenue and earnings momentum, reduced debt/cap to below 60%, respectable market share positions, strengthened EBIT interest coverage, increased size and scale and successful integration of Polygon.

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