NEW YORK (Standard&Poor's) Jan. 9, 2008--Standard&Poor's Ratings Services today said its corporate credit and debt ratings and negative outlook on KB Home (BB+/Negative/--) are not currently affected by the company's recently reported noncash charges and fourth-quarter 2007 net loss. KB Home reported a sizable $772.6 million loss in its fourth quarter ended Nov. 30, 2007. The loss reflects very weak housing conditions that continue to hurt demand and profitability and in turn caused the company to incur meaningful noncash charges in the quarter. During the quarter, KB Home recorded a pretax, noncash charge of $403.4 million associated with inventory and joint-venture impairments, as well as land option abandonment costs; it also recorded an after-tax, noncash charge
