Moody's rates Ryland notes B1

Moody's Investors Service said it assigned a B1 rating to Ryland Group, Inc.'s proposed $150 million convertible senior notes due 2018.

The agency said it also affirmed the company's B1 corporate family and probability of default ratings, its B1 rating on its existing senior unsecured notes and its SGL-2 speculative grade liquidity assessment.

Moody's said the B1 corporate family reflects its view that Ryland's key credit metrics will improve slightly over the next 12 to 18 months in line with the positive developments emerging in the homebuilding industry, including improving orders and closings as well as pricing stability in certain key markets.

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