KB Home's Proposed $300 Million Senior Unsecured Notes Due 2031 Rated 'BB' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

KB Home's Proposed $300 Million Senior Unsecured Notes Due 2031 Rated 'BB' (Recovery Rating: '3')

KB Home's Proposed $300 Million Senior Unsecured Notes Due 2031 Rated 'BB' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
KB Home's Proposed $300 Million Senior Unsecured Notes Due 2031 Rated 'BB' (Recovery Rating: '3')
Published May 25, 2021
3 pages (1198 words) — Published May 25, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

CENTENNIAL (S&P Global Ratings) May 25, 2021--S&P Global Ratings today assigned its 'BB' issue-level rating and '3' recovery rating to KB Home's proposed $300 million senior unsecured notes due 2031. 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 $450 million 7% senior unsecured notes due December 2021. For a more detailed view of our credit opinion, please see our most recent full analysis on KB Home, published Jan. 25, 2021, on RatingsDirect. General Criteria: Group Rating Methodology, July 1, 2019 Criteria Corporates General: Corporate Methodology:

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - Criteria | Corporates | Industrials: Key Credit Factors For The Homebuilder And Real Estate Developer Industry, Feb. 3, 2014 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013 - Criteria | Corporates | General: Corporate Methodology, Nov. 19, 2013 - General Criteria: Methodology: Management And Governance Credit Factors For Corporate Entities, Nov. 13, 2012 - General Criteria: Principles Of Credit Ratings, Feb. 16, 2011...

  
Report Type:

Ratings Action

Ticker
KBH
Issuer
KB Home
GICS
Homebuilding (25201030)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "KB Home's Proposed $300 Million Senior Unsecured Notes Due 2031 Rated 'BB' (Recovery Rating: '3')" May 25, 2021. Alacra Store. May 01, 2025. <http://www.alacrastore.com/s-and-p-credit-research/KB-Home-s-Proposed-300-Million-Senior-Unsecured-Notes-Due-2031-Rated-BB-Recovery-Rating-3-2653919>
  
APA:
S&P Global Ratings’ Credit Research. (). KB Home's Proposed $300 Million Senior Unsecured Notes Due 2031 Rated 'BB' (Recovery Rating: '3') May 25, 2021. New York, NY: Alacra Store. Retrieved May 01, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/KB-Home-s-Proposed-300-Million-Senior-Unsecured-Notes-Due-2031-Rated-BB-Recovery-Rating-3-2653919>
  
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