The New Home Co. Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'B-' - S&P Global Ratings’ Credit Research

The New Home Co. Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'B-'

The New Home Co. Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'B-' - S&P Global Ratings’ Credit Research
The New Home Co. Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'B-'
Published Oct 13, 2020
3 pages (1225 words) — Published Oct 13, 2020
Price US$ 150.00  |  Buy this Report Now

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Abstract:

CENTENNIAL (S&P Global Ratings) Oct. 13, 2020--S&P Global Ratings today assigned its 'B-' issue-level and '3' recovery ratings to The New Home Co. Inc.'s proposed $250 million senior unsecured notes due 2025. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of payment default. We expect the company to use the proceeds from this offering and cash on hand to fund the redemption of all $292 million of its outstanding existing notes due in 2022 and to pay related fees and expenses. For a more detailed view of our credit opinion, please see our most recent research update on the company, "The New Home Co. Inc. Ratings Placed On CreditWatch Negative On

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - Criteria | Corporates | Industrials: Key Credit Factors For The Homebuilder And Real Estate Developer Industry, Feb. 3, 2014 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013 - Criteria | Corporates | General: Corporate Methodology, Nov. 19, 2013 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013 - General Criteria: Methodology: Management And Governance Credit Factors For Corporate Entities, Nov. 13, 2012 - General Criteria: Use Of CreditWatch And Outlooks, Sept. 14, 2009...

  
Report Type:

Ratings Action

Ticker
NWHM
Issuer
The New Home Company Inc
GICS
Homebuilding (25201030)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "The New Home Co. Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'B-'" Oct 13, 2020. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/The-New-Home-Co-Inc-s-Proposed-250-Million-Senior-Unsecured-Notes-Rated-B-2532575>
  
APA:
S&P Global Ratings’ Credit Research. (). The New Home Co. Inc.'s Proposed $250 Million Senior Unsecured Notes Rated 'B-' Oct 13, 2020. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/The-New-Home-Co-Inc-s-Proposed-250-Million-Senior-Unsecured-Notes-Rated-B-2532575>
  
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