S&P rates TRI Pointe notes BB-

S&P said it assigned its BB- issue-level and 3 recovery ratings to TRI Pointe Group Inc.'s proposed $300 million of senior unsecured notes due 2028. The 3 recovery rating indicates S&P’s expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of default.

Proceeds will be used to fully redeem its $300 million of 4 7/8% senior notes due July 2021.

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