Oakville, Ont.-based homebuilder Mattamy Group Corp. achieved better profitability compared with our forecast for fiscal 2015, resulting in leverage that has improved faster than we previously anticipated. As a result of this and our expectations for continued improvement, we are revising our outlook on Mattamy to stable from negative. At the same time, we have affirmed all ratings, including our 'BB' corporate credit rating on the company and our 'BB' issue-level ratings on its senior unsecured notes. The recovery rating on the notes is '3'. We based our outlook revision on the company's financial performance for fiscal 2015, which was more favorable than our forecast, specifically with stronger leverage of 3.9x for the year, and our expectation that leverage will
