Fitch upgrades D.R. Horton, view to stable

Fitch Ratings said it upgraded the long-term issuer default rating of D.R. Horton, Inc. to BB+ from BB and senior unsecured debt rating to BB+ from BB.

The outlook also was revised to stable from positive.

The ratings reflect the company’s successful execution of its business model, steady capital structure and geographic and product line diversity, Fitch said.

The company was an active consolidator in the homebuilding industry in the past, but has been much less acquisitive over the past 10 years and it appears the company will continue to focus on harvesting opportunities within its current and adjacent markets, the agency said.

The ratings also consider its relatively heavy speculative building activity, Fitch said.

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