NEW YORK (Standard & Poor's) Oct. 25, 2006--Standard & Poor's Ratings Services today placed its corporate credit, senior unsecured, and senior subordinated debt ratings on KB Home on CreditWatch with negative implications (see list). The CreditWatch listings affect $1.65 billion of senior notes and $750 million of senior subordinated notes. The CreditWatch placements reflect the following: -- KB Home's late quarterly financial filing status, which becomes official at the end of today; -- The current independent review of its stock option practices, which has delayed the filing of its financials; and -- The recent notice of default related to its filing status and the likelihood that additional default notices will be filed, which could accelerate the maturity of some debt
