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S&P affirms Desarrolladora Homex
Standard & Poor's said it affirmed its BB- corporate credit ratings on Desarrolladora Homex SAB de CV.
At the same time, S&P said it affirmed its BB- rating on Homex's $250 million, 7.5% senior unsecured notes due 2015.
The outlook remains stable.
The agency added that the ratings on Homex are constrained by the company's aggressive growth plans, our expectation that these plans could demand additional indebtedness and high working-capital requirements that have restricted free operating cash-flow generation.
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