NEW YORK (Standard & Poor's) Nov. 15, 2006--Standard & Poor's Ratings Services said today that its ratings on KB Home (BB+/Watch Neg/--) are not immediately affected by the company's recent announcement regarding the substantial completion of its internal options investigation and related management changes. The ratings on KB Home remain on CreditWatch with negative implications, where they were placed Oct. 25, 2006. KB Home has yet to file its quarterly financials for the third quarter ended Aug. 31, 2006, and as a result, several notices of default have been filed. The company received the required consents from its senior noteholders to extend the filing deadline for third-quarter financials to Feb. 23, 2007. It is uncertain whether a restatement will be
