Fitch rates Lennar's notes BBB

Fitch Ratings assigned a BBB rating to Lennar Corp.'s $250 million senior unsecured notes due Sept. 1, 2014.

The outlook is positive.

Proceeds from the new debt issue are expected to be used for paydown of revolving credit facility debt incurred subsequent to May 31 and for other corporate purposes.

Fitch said the ratings and outlook reflect Lennar's continuing 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.

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