NEW YORK (S&P Global Ratings) Jan. 17, 2017--S&P Global Ratings today assigned its 'B-' issue-level rating and '3' recovery rating to William Lyon Homes Inc.'s proposed $450 million senior unsecured notes due 2025. The '3' recovery rating reflects our expectation for meaningful (50%-70%; higher end of range) recovery in the event of default. All of our other ratings on William Lyon are unchanged. We expect William Lyon to use the proceeds from the offering to retire its existing $425 million senior notes due 2020, which bear an interest rate of 8.5%. While our corporate credit rating on William Lyon is unchanged, we view the transaction as positive for the company's credit profile due to the reduction of annual cash interest
