Fitch assigns Adams Homes B+

Fitch Ratings said it assigned Adams Homes, Inc. a B+ long-term issuer default rating, BB+/RR1 ratings to the company's senior secured revolving credit facility and BB-/RR3 ratings to the company's senior unsecured notes. The outlook is stable.

“The B+ IDR reflects the company's modest leverage, limited geographic and product diversity, limited financial flexibility and concentrated ownership structure. The company's leading positions within its local markets, balanced land strategy and cash flow profile are also factored into the rating,” Fitch said in press release.

The stable outlook considers the position for a reasonably stable demand environment in Adams' markets and meaningful headroom relative to its leverage negative sensitivity, Fitch said.

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