Moody's rates D.R. Horton notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to the $300 million of 5 5/8% senior notes due Jan. 15, 2016 of D.R. Horton Inc., proceeds of which will be added to working capital.

At the same time, Moody's confirmed all of the company's existing ratings, including the senior implied rating, issuer rating, and the ratings on the company's senior notes at Ba1 and on its senior subordinated debt at Ba2. The outlook is positive.

Moody's said the ratings acknowledge the company's enviable operating performance, success at integrating prior acquisitions, strong equity base, geographic diversity, tight cost controls and sound liquidity.

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