Moody's raises Adams Homes

Moody's Investors Service said it upgraded Adams Homes, Inc.'s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD and senior unsecured notes to B2 from B3.

"The upgrade reflects improved scale and diversification of Adams Homes portfolio outside of its core Florida market, while maintaining strong credit metrics," said Griselda Bisono, a Moody’s vice president and senior analyst, in a press release.

"The company has expanded its presence into North Carolina, South Carolina and most recently, Houston, Texas," added Bisono.

The outlook remains stable.

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