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S&P elevates D.R. Horton
S&P said it raised its ratings, including the issuer credit rating, on D.R. Horton Inc. and the issue-level ratings on its senior unsecured debt, to BBB+ from BBB.
The outlook is stable.
D.R. Horton achieved “significant and profitable growth” over the past several years, with S&P Global Ratings estimating the company will generate nearly $35 billion of total revenue in fiscal-year 2023, S&P said.
“The company gained scale and a leading, national market share while maintaining very low debt leverage that positions D.R. Horton to preserve these credit metrics through a moderate downturn,” S&P said in a news release.
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