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NEW YORK — Moody’s Investors Service downgraded all of the ratings of homebuilder KB Home on Monday, including its corporate family rating to B1 from Ba3.
The outlook for the Los Angeles-based company remains negative. The downgrades reflect Moody’s expectation that KB will continue to post operating losses and remains exposed to asset impairment charges, and that its pace of cash generation will slow as further inventory reduction grows more challenging.
