Irvine, CA-based The New Home Co. Inc. was acquired by funds managed by affiliates of Apollo Global Management, Inc. on September 8, 2021. S&P Global Ratings affirmed our 'B-' issuer credit rating on the company and our 'B-' issue-level rating on its senior unsecured notes. Our stable outlook on New Home reflects EBITDA improving to between $50 million and $65 million over the next 12 months and debt remaining at about its recent $285 million, despite discretionary cash outflows of up to $35 million to meet forecast demand. Our stable outlook on New Home reflects EBITDA improving to between $50 million and $65 million over the next 12 months and debt remaining about its recent $285 million, despite discretionary cash
