S&P affirms Ryland

Standard & Poor's said it affirmed the BB- corporate credit and senior unsecured note ratings on the Ryland Group Inc. and revised the outlook to stable from negative.

"The outlook revision reflects our view that the combination of a sizable cash position and manageable capital needs limit downside risk to the corporate credit rating," S&P analyst George Skoufis said in a statement.

"The company faces no debt maturities until 2012, and its owned lots are predominantly developed."

The rating acknowledges the company's still-weak credit and profitability metrics and our view that while recent trends show signs of stabilization, housing conditions will remain challenging and could hinder Ryland's ability to enhance these metrics in the near term, the agency said.

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