S&P downgrades KB Home on weak housing recovery

S&P downgrades KB Home on weak housing recovery
SAN FRANCISCO (MarketWatch) — Standard & Poor’s said Friday it downgraded the corporate credit rating on KB Home to B+ from BB- given a weak rebound in the housing market. S&P, however, raised KB Home’s ratings outlook to stable from negative. “Our rating on KB Home reflects our expectation that this Los Angeles-based homebuilder’s bottom line will remain under pressure through 2011, given the …

Read more on Market Watch

Related posts:

1. Housing Market May Not Be That Weak, Shiller Says: Tom Keene
2. Kansas City housing market continued its weak performance in February
3. Foreclosure sales decline, but housing recovery still has far to go
4. Lower prices and sales plunge reflect weak housing market
5. Housing market’s recovery at risk