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<description>Desarrolladora Homex, S.A. de C.V.</description>
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<item><link>http://www.alacrastore.com/storecontent/ccbn/T1986697</link><guid isPermaLink="false">ccbn/T1986697</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>... - Dessarrolladora Homex SA de CV -  CEOI would like to share with you our thoughts and strategy as we face the challenges of the global economic environment. I will  then turn the call over to Alan, who will discuss our third quarter #### financial result in greater detail. ...

</description><pubDate>10/29/2008 6:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">DESARROLLADORA HOMEX S A DE CV</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">DESARROLLADORA HOMEX S A DE CV Q3 2008 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">HXM</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">11:00am ET</ccbn:time><title>DESARROLLADORA HOMEX S A DE CV Q3 2008 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1986697</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/PRN-0005-29041347</link><guid isPermaLink="false">newstex/PRN-0005-29041347</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> CULIACAN, Mexico, Oct. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- Desarrolladora Homex, S.A.B. de C.V. ("Homex" or "the Company") (NYSE: HXM, BMV: HOMEX) today announced financial results for the third quarter ended September...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016018</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016001</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016003</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">14000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">14010000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">14010004</newstex:cat><pubDate>10/28/2008 8:18:45 PM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19000000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002012</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002010</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002013</newstex:geo><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">PR Newswire US</newstex:Publication><title>Homex Third Quarter 2008 Results</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">PRN-0005-29041347</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">HOMEX DEVELOPMENT CORP.</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">HXM</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/PRN-0005-29020255</link><guid isPermaLink="false">newstex/PRN-0005-29020255</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> CULIACAN, Mexico, Oct. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- Desarrolladora Homex, S.A.B de C.V. (NYSE: HXM)(BMV: Homex) will announce its Third Quarter #### earnings after the market close on October ##, ####. Gerardo...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016018</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04004000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04004002</newstex:cat><pubDate>10/27/2008 10:20:13 PM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19000000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002013</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002010</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002012</newstex:geo><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">PR Newswire US</newstex:Publication><title>Desarrolladora Homex Teleconference Advisory</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">PRN-0005-29020255</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">HOMEX DEVELOPMENT CORP.</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">HXM</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1889890</link><guid isPermaLink="false">ccbn/T1889890</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day and welcome to the Desarrolladora Homex Second Quarter #### Financial Results Conference Call. This call is being recorded.At this time, I would like to turn the conference over to Carlos Moctezuma. ...

</description><pubDate>7/22/2008 7:37:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">DESARROLLADORA HOMEX S A DE CV</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q2 2008 DESARROLLADORA HOMEX S A DE CV Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">HXM</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q2 2008 DESARROLLADORA HOMEX S A DE CV Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1889890</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/bir/1254227</link><guid isPermaLink="false">bir/1254227</guid><bir:index_mode xmlns:bir="http://www.alacra.com/bir">norm</bir:index_mode><title>Desarrolladora Homex S.A. de C.V.</title><bir:company xmlns:bir="http://www.alacra.com/bir">Desarrolladora Homex S.A. de C.V.</bir:company><bir:company xmlns:bir="http://www.alacra.com/bir">Homex Development Corp.</bir:company><bir:cou xmlns:bir="http://www.alacra.com/bir">Mexico</bir:cou><bir:descr xmlns:bir="http://www.alacra.com/bir">Construction: Home building and construction.</bir:descr><bir:sic xmlns:bir="http://www.alacra.com/bir">1521</bir:sic><bir:naics xmlns:bir="http://www.alacra.com/bir">236115</bir:naics><bir:class xmlns:bir="http://www.alacra.com/bir">9</bir:class><bir:size xmlns:bir="http://www.alacra.com/bir">I</bir:size><bir:revenue xmlns:bir="http://www.alacra.com/bir">K</bir:revenue><bir:ticker xmlns:bir="http://www.alacra.com/bir">HXM</bir:ticker><pubDate>6/26/2008 6:29:00 AM</pubDate><bir:docid xmlns:bir="http://www.alacra.com/bir">1254227</bir:docid><category>Company Profiles &amp; Financials</category><alacra:ip>Gale Company Profiles</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/654536</link><guid isPermaLink="false">spcred/654536</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><pubDate>6/17/2008 6:25:36 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">400</spcred:price><title>Desarrolladora Homex S.A.B. de C.V.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">654536</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Mexico</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Homebuilding</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Real Estate Companies</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Leading market position and diversification across the country Comfortable maturity schedule Adequate financial performance during the past few years Aggressive growth plans in a highly competitive market High working-capital requirements for project development Revenue concentration in public housing agency mortgages Standard&amp;Poor's Ratings Services' ratings on Desarrolladora Homex S.A.B. de C.V. (Homex) are constrained by the company's aggressive growth plans, high working-capital requirements that have restricted free operating cash flow, and our expectation that this could require additional indebtedness. The ratings also reflect risk factors in the Mexican homebuilding industry, which include the concentration of mortgage origination in public housing agencies and the degree of political risk inherent in these institutions. Positive factors supporting the rating include Homex's position</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">MEX</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">25030W</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">25201030 252010 2520 25</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Desarrolladora Homex S.A.B. de C.V.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">344262</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">HOMEX*@MM</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">FULL</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">REC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/654539</link><guid isPermaLink="false">spcred/654539</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>6/17/2008 6:25:00 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: Desarrolladora Homex S.A.B. de C.V.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">654539</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Mexico</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Homebuilding</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Real Estate Companies</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Standard&amp;Poor's Ratings Services' ratings on Desarrolladora Homex S.A.B. de C.V. (Homex) are constrained by the company's aggressive growth plans, high working-capital requirements that have restricted free operating cash flow, and our expectation that this could require additional indebtedness. The ratings also reflect risk factors in the Mexican homebuilding industry, which include the concentration of mortgage origination in public housing agencies and the degree of political risk inherent in these institutions. Positive factors supporting the rating include Homex's position as a leading homebuilder in Mexico, broad geographic diversity, favorable financial performance during the past couple of years, and a comfortable maturity schedule. The 'BB-' rating on Homex's senior unsecured notes also reflects the guarantee by the company's restricted subsidiaries,</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">MEX</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">25030W</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">25201030 252010 2520 25</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Desarrolladora Homex S.A.B. de C.V.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">344262</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">HOMEX*@MM</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">REC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1830171</link><guid isPermaLink="false">ccbn/T1830171</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good day, and welcome to the Desarrolladora Homex first quarter #### financial results conference call. This call is being recorded. At this time, I would like to turn the conference over to Carlos Moctezuma. Please go ahead, sir. ...

</description><pubDate>4/24/2008 8:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">DESARROLLADORA HOMEX S A DE CV</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q1 2008 DESARROLLADORA HOMEX S A DE CV Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">HXM</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q1 2008 DESARROLLADORA HOMEX S A DE CV Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1830171</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/635483</link><guid isPermaLink="false">spcred/635483</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest News from S&amp;P</description><title>Bulletin: Desarrolladora Homex S.A.B. de C.V. Rating Unaffected By $250 Mil. Share Repurchase Program</title><pubDate>3/13/2008 3:30:43 PM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">635483</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Mexico</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Homebuilding</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Real Estate Companies</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">MEXICO CITY (Standard&amp;Poor's) March 13, 2008--Standard&amp;Poor's Ratings Services said today that Desarrolladora Homex S.A.B. de C.V.'s (BB-/Stable/--) announcement that it has received approval from its shareholders to establish a $250 million share repurchase program does not have an immediate impact on the current rating or outlook assigned to the issuer. Despite the size of the program, we expect share repurchases to be limited to $10 million in 2008 to meet Homex's obligations under its executive stock option program. We also expect additional share buybacks not to exceed Homex's free operating cash flow generation. Given our expectations of significant working capital requirements to fund its operations, we believe Homex's ability to buy back shares is very limited.</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">MEX</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">25030W</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">25201030 252010 2520 25</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Desarrolladora Homex S.A.B. de C.V.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">344262</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">HOMEX*@MM</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">NEWS</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">REC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1764920</link><guid isPermaLink="false">ccbn/T1764920</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Please stand by. Good day and welcome to the Homex fourth quarter and full year #### results conference call. As a reminder, today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Carlos Moctezuma. Please go ahead, sir....

</description><pubDate>2/27/2008 4:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">DESARROLLADORA HOMEX S A DE CV</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q4 2007 DESARROLLADORA HOMEX S A DE CV Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">HXM</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q4 2007 DESARROLLADORA HOMEX S A DE CV Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1764920</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/619957</link><guid isPermaLink="false">spcred/619957</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><title>Summary: Desarrolladora Homex S.A.B. de C.V.</title><description>The latest Summary from S&amp;P</description><pubDate>12/14/2007 1:26:35 PM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">619957</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Mexico</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Homebuilding</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Real Estate Companies</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Standard&amp;Poor's Ratings Services' ratings on Desarrolladora Homex S.A.B. de C.V. (Homex) are constrained by the company's aggressive growth plans, high working-capital requirements that have restricted free operating cash-flow generation, and our expectation that this could require additional indebtedness. The ratings also reflect the concentration of mortgage origination in public housing agencies and the degree of political risk inherent to these institutions, and increased competition--risk factors inherent in the Mexican homebuilding industry. Positive factors supporting the rating include Homex's position as a leading homebuilder in Mexico, broad geographic diversity, the favorable trend in Homex's financial performance during the past couple of years, and the comfortable maturity schedule. The rating assigned to its senior notes also reflects the guarantee by</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">MEX</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">25030W</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">25201030 252010 2520 25</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">Desarrolladora Homex S.A.B. de C.V.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">344262</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">HOMEX*@MM</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">REC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Homebuilders</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item></channel></rss>