Moody’s Downgrades Six Builders
- Jun 10, 2008
New York–New York-based ratings agency Moody’s downgraded six homebuilders on Monday, Forbes.com reports.Cash flow issues and low earning forecasts prompted Moody’s to lower ratings for Pulte Homes, Centex, Ryland Group, D.R. Horton, KB Home and Lennar.Pulte, Centex, Ryland Group, D.R. Horton and KB Home were cut from Ba1 to Ba2. Lennar fell from Ba1 to Ba3.