Moody's cuts Champion Home Builders

Moody's Investors Service said it lowered Champion Home Builders Co.'s probability of default to D from Caa3 and its corporate family rating to Ca from Caa3 following the recent announcement by Champion Enterprises, Inc. that it and its domestic operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

According to the agency, Champion Enterprises, Inc. is a holding company that conducts its operations though Champion Home Builders Co. and its subsidiaries.

The company's operations in the United Kingdom and Canada were not included in and will not be impacted by the filing, the agency noted.

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