S&P upgrades D.R. Horton

Standard & Poor's said it raised its corporate credit and senior debt ratings on D.R. Horton Inc. to BB+ from BB and revised the outlook to stable from positive.

"The upgrade acknowledges Horton's commitment to an organic growth strategy and lower leverage levels over the past year, which has materially improved the company's financial profile. This well-diversified national homebuilder's above-average margins improved over the past year as well, and efforts to strengthen inventory turns continue," said S&P credit analyst Elizabeth Campbell.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.