NEW YORK (Standard&Poor's) Oct. 15, 2013--Standard&Poor's Ratings Services today assigned its 'B' rating and '3' recovery rating to U.S. homebuilder KB Home's proposed $350 million senior unsecured notes due 2021. Our '3' recovery rating indicates our expectation for a meaningful (50% to 70%) recovery in the event of default. KB Home's newly issued notes will rank equally with its existing senior unsecured notes and revolving credit facility. The company intends to use the net proceeds to fund a tender offer for any and all of its $75.97 million 5.75% senior notes due 2014 and $102.172 million 5.875% senior notes due 2015 and up to $37 million of its 6.25% senior notes due 2015 ($236.9 million currently
