The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Eddy Blinker who wrote (124599)	5/21/2008 10:48:35 PM
From: Jim McMannis	of 306849

KB Home cut to 'BB' from 'BB+' on weak Q1, difficult market conditions - S&P forbes.com MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it lowered its corporate credit and senior note ratings on KB Home to 'BB' from 'BB+', reflecting the company's weak first quarter and very difficult housing market conditions in the U.S. The outlook remains negative reflecting S&P's expectation that housing conditions for KB Home and its peers will continue to deteriorate, blocking efforts to rapidly right size operating platforms. 'Given the current conditions, KB Home's earnings and profitability, as well as its already weak credit metrics, will likely continue to be pressured,' said the ratings agency. S&P also lowered its rating on the company's senior subordinated notes to 'B+' from 'BB-'.

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