NY -- Standard & Poor's CreditWire 3/22/96 -- Standard & Poor's today has lowered its ratings of Kaufman & Broad Home Corp.'s $100 million 10 3/8% senior notes due 1999 to double-`B' from double-`B'-plus and $173 million 9 3/8% senior subordinate notes due 2003 and $109 million mandatory convertible preferred stock to single-`B'-plus from double-`B'-minus. The outlook is now stable. The downgrade reflects Standard & Poor's concern that leverage will remain at currently higher-than-desirable levels -- and might in fact increase further in the near term -- as this homebuilder undergoes a repositioning of its large inventory base, while continuing to aggressively expand its non-California homebuilding operations. Los Angeles, Calif.-based, Kaufman & Broad Home Corp. is an established, dominant homebuilder
