Fitch: Lennar outlook positive

Fitch Ratings said it affirmed Lennar Corp.'s BBB senior unsecured debt and unsecured bank credit facility ratings as well as the BBB- rating on Lennar's senior subordinated convertible notes.

The outlook has been revised to positive from stable.

Fitch said the change reflects Lennar's recent solid financial performance and the expectation that the company's credit profile will be maintained as it executes its business model and continues to grow. The ratings also reflect Lennar's very strong track record over the past 30 years and through many past homebuilding cycles, management's sound operating and financial policies, the company's well positioned, low-basis land holdings in attractive growth markets, and its capacity to withstand a meaningful housing downturn.

© 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.