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S&P rates TRI Pointe BB-
S&P said it assigned a BB- corporate credit rating to TRI Pointe Group Inc. and withdrew the BB- corporate credit rating on TRI Pointe Homes Inc.
The outlook is stable.
The ratings changes come after the company reorganized its corporate structure in July of 2015.
The agency also said it affirmed the BB- rating on the companies' senior unsecured notes.
The recovery rating is 3, indicating 50% to 70% expected default recovery.
The stable outlook reflects a view that TRI Pointe will continue to expand its platform and geographic footprint while maintaining a debt-to-EBTIDA ratio of less than 4x over the next 12 months, S&P said.
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