Moody's upgrades KB Home's CFR to Ba2; assigns a Ba2 rating to proposed notes
Rating Action: Moody's upgrades KB Home's CFR to Ba2; assigns a Ba2 rating to proposed notes. Global Credit Research- 25 May 2021. Approximately $300 million of debt securities rated.KB Home is a homebuilding company. The company builds a variety of homes designed primarily for first-time and first move-up, as well as second move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. The company's financial services operations provide various insurance products to its homebuyers in the markets where it builds homes and provide title services in certain of those markets. The company's financial services operations also provide mortgage banking services, including residential consumer mortgage loan originations, to its homebuyers indirectly through KBHS Home Loans, LLC, a joint venture the company formed with Stearns Lending, LLC.
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