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 "

December 2014

This Month in Professional Builder

Products

Skyline Windows released an ADA-compliant crank operated tilt and turn window with incremental control. 

Features

Builders are more optimistic about the industry as the overall economy becomes less of a concern, even as the rising cost of materials and labor commands more attention.

Email Subscriptions