William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3') - S&P Global Ratings’ Credit Research

William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3')

William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3') - S&P Global Ratings’ Credit Research
William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3')
Published Mar 26, 2014
1391 words — Published Mar 26, 2014
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S. homebuilder William Lyon Homes Inc. is proposing to issue $150 million of senior unsecured notes due 2019. The company will use proceeds from the unsecured notes to fund the portfolio acquisition of 540 lots in eight new home communities located in coastal California for $174.5 million. We are assigning a 'B-' issue rating and '3' recovery rating to the proposed senior unsecured notes. We are affirming our 'B-' corporate credit rating and senior unsecured debt ratings on the company. The positive outlook takes into account our view that though leverage will increase over the near term as a result of the debt-funded portfolio acquisition, the company's credit measures will improve by the second half of 2015 due to EBITDA

  
Brief Excerpt:

RESEARCH William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3') Publication date: 26-Mar-2014 Primary Credit Analyst: Matthew Lynam, CFA, New York (1) 212-438-8002; matthew.lynam@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
William Lyon Homes Inc.
GICS
Homebuilding (25201030)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3')" Mar 26, 2014. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/William-Lyon-Homes-Inc-s-150-Million-Senior-Unsecured-Notes-Are-Assigned-B-Rating-Recovery-3-1284688>
  
APA:
S&P Global Ratings’ Credit Research. (). William Lyon Homes Inc.'s $150 Million Senior Unsecured Notes Are Assigned 'B-' Rating (Recovery: '3') Mar 26, 2014. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/William-Lyon-Homes-Inc-s-150-Million-Senior-Unsecured-Notes-Are-Assigned-B-Rating-Recovery-3-1284688>
  
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