Moody's: D.R. Horton notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to D.R. Horton, Inc.'s proposed $350 million senior unsecured notes due 2022, proceeds from which will be used for general corporate purposes, including growth capital.

The outlook was changed to positive from stable.

Moody's also affirmed the company's Ba2 corporate family and probability of default ratings and Ba2 ratings on the existing senior unsecured notes and convertible senior notes.

The speculative grade liquidity assessment is SGL-2.

Moody's said the Ba2 rating reflects the company's cash generating prowess, which has permitted it to repay over $4 billion of homebuilding debt out of internally generated funds since the downturn began.

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