Pending Home Sales

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has assigned a 'B+' rating to KB Home's (NYSE: KBH) $250 million senior notes due 2020. The Rating Outlook is Negative. This issuance extends a meaningful portion of KBH's maturities to 2020 and improves the ratio of cash to remaining 2012 - 2015 maturities, although at the cost of higher interest rates. The issue will be ranked on a pari passu basis with other senior unsecured debt. Proceeds from the new debt issue will be used to fund the recently announced cash tender offers for up to $250 million of ...