Fitch Ratings downgrades Pulte

Printer-friendly versionSend by email

Fitch Ratings has downgraded PulteGroup’s issuer default (IDR) and senior unsecured ratings from BB+ to BB.

August 25, 2011
pulte, builders, home builders

pulte, builders, home builders

Fitch Ratings has downgraded PulteGroup’s issuer default (IDR) and senior unsecured ratings from BB+ to BB, according to MarketWatch. The outlook has been revised to negative from stable.

The downgrade in the PHM ratings and change in outlook reflect the still very challenging U.S. housing market. PHM's underperformance relative to its peers in certain operational and financial categories penalizes the ratings and influences the outlook.

Macroeconomic housing statistics (new and existing home sales, single-family housing starts) generally remained weak and disappointing through June and July. However, there was a seasonal pick-up in the spring orders compared to the winter. The public builders reported clear improvement in traffic during the spring selling season. New home prices so far this year are relatively stable.

For more information: www.marketwatch.com/story/fitch-downgrades-pultegroup-idr-to-bb-outlook-...

Comments on: "Fitch Ratings downgrades Pulte "

Products

In the past 12 months, building product manufacturers introduced a vast number of new products, many of which were featured in the pages of Professional Builder.

Features

Builders, designers, and architects weigh in on what they value in relationships with suppliers and which attributes would make them consider trying a new product.

Email Subscriptions