Summary: Ashton Woods USA LLC - S&P Global Ratings’ Credit Research

Summary: Ashton Woods USA LLC

Summary: Ashton Woods USA LLC - S&P Global Ratings’ Credit Research
Summary: Ashton Woods USA LLC
Published Feb 10, 2014
1895 words — Published Feb 10, 2014
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Our 'B-' rating on Ashton Woods USA LLC is derived from: Our anchor of 'b-', based on "weak" business risk profile and "highly leveraged" financial risk profile assessments for the company. Modifiers have no impact on the rating outcome. Subject to highly cyclical homebuilding market conditions. Smaller scale and less geographic diversity than many public peers. "Asset lite" strategy results in better inventory turnover, but may lead to higher land input costs and limited margin upside. Leverage remains greater than 5x. No material near-term debt maturities. Liquidity remains "adequate" under our criteria. Our outlook on Ashton Woods is positive. We expect the company to produce steady sales growth due to an expanding community count in a strengthening housing market over

  
Brief Excerpt:

RESEARCH Summary: Ashton Woods USA LLC Publication date: 10-Feb-2014 Primary Credit Analyst: Matthew Lynam, CFA, New York (1) 212-438-8002; matthew.lynam@standardandpoors.com Secondary Contact: Jaime Gitler, CFA, New York (1) 212-438-5049;...

  
Report Type:

Summary

Ticker
616150Z
Issuer
Ashton Woods USA LLC
GICS
Homebuilding (25201030)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
HTML HTML
Buy Now

More from S&P Global Ratings’ Credit Research

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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Ashton Woods USA LLC" Feb 10, 2014. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Ashton-Woods-USA-LLC-1257118>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Ashton Woods USA LLC Feb 10, 2014. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Ashton-Woods-USA-LLC-1257118>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.