NEW YORK (Standard&Poor's) July 24, 2012--Standard&Poor's Ratings Services today assigned its 'B' rating and '4' recovery rating to KB Home's proposed issuance of $250 million of senior notes due 2021. Our '4' recovery rating indicates our expectation for an average (30%-50%) recovery in the event of default. On July 11, 2012, the company announced a tender offer for up to $250 million of its 2015 and 2015 senior notes. The tender comprises an any and all tender for its $193.5 of its 5.75% senior notes due 2014 and up to $150 million of its $169.7 million 5.625% senior notes and $296.2 million 6.25% senior notes due 2015. The early tender offer ended July 23, 2012, with
