Research Update: The New Home Co. Inc. Upgraded To 'B' From 'B-' On Improved Credit Metrics; Outlook Stable; Senior Unsecured Debt Rating Raised To 'B' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Research Update: The New Home Co. Inc. Upgraded To 'B' From 'B-' On Improved Credit Metrics; Outlook Stable; Senior Unsecured Debt Rating Raised To 'B' (Recovery Rating: '3')

Research Update: The New Home Co. Inc. Upgraded To 'B' From 'B-' On Improved Credit Metrics; Outlook Stable; Senior Unsecured Debt Rating Raised To 'B' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Research Update: The New Home Co. Inc. Upgraded To 'B' From 'B-' On Improved Credit Metrics; Outlook Stable; Senior Unsecured Debt Rating Raised To 'B' (Recovery Rating: '3')
Published Feb 21, 2025
7 pages (3104 words) — Published Feb 21, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Irvine-based The New Home Co. Inc. has continued to improve its operating performance and scale. We now expect the company to generate revenues of approximately $1.1 billion in fiscal year 2025 with debt to EBITDA of approximately 4x. Therefore, we raised our issuer credit rating to 'B' from 'B-'. The outlook is stable. At the same time, we raised our issue level ratings on the company?s senior unsecured notes to ?B? from ?B-?. The recovery rating on the senior unsecured notes remains ?3'. Our stable outlook on The New Home Co. is based on our view that it will continue to invest in land to fuel its community count growth and closings, while maintaining a leverage profile such that debt

  
Brief Excerpt:

...Irvine-based The New Home Co. Inc. has continued to improve its operating performance and scale. We now expect the company to generate revenues of approximately $1.1 billion in fiscal year 2025 with debt to EBITDA of approximately 4x....

  
Report Type:

Research Update

Ticker
NWHM
Issuer
New Home Co. Inc. (The)
GICS
Homebuilding (25201030)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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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. "Research Update: The New Home Co. Inc. Upgraded To 'B' From 'B-' On Improved Credit Metrics; Outlook Stable; Senior Unsecured Debt Rating Raised To 'B' (Recovery Rating: '3')" Feb 21, 2025. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-The-New-Home-Co-Inc-Upgraded-To-B-From-B-On-Improved-Credit-Metrics-Outlook-Stable-Senior-Unsecured-Debt-Rating-Raised-To-B-Recovery-Rating-3-3327264>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: The New Home Co. Inc. Upgraded To 'B' From 'B-' On Improved Credit Metrics; Outlook Stable; Senior Unsecured Debt Rating Raised To 'B' (Recovery Rating: '3') Feb 21, 2025. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-The-New-Home-Co-Inc-Upgraded-To-B-From-B-On-Improved-Credit-Metrics-Outlook-Stable-Senior-Unsecured-Debt-Rating-Raised-To-B-Recovery-Rating-3-3327264>
  
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