KB Home's $350 Million Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3')

CENTENNIAL (S&P Global Ratings) June 7, 2022--S&P Global Ratings today assigned its 'BB' issue-level rating and '3' recovery rating to KB Home's proposed $350 million senior unsecured notes due 2030. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default. We expect the company to use proceeds from these notes, along with cash on hand, to fully repay its outstanding $350 million 7.5% senior unsecured notes due September 2022. For a more detailed view of our credit opinion, please see our most recent research update on KB Home, published Jan. 20, 2022, on RatingsDirect. General Criteria: Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021 General Criteria:

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