Kaufman & Broad ratings cut to 'B+' and withdrawn at company's request - S&P |
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Published
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Fri, 20 Jul 2007 17:38
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MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services lowered its long-term corporate credit ratings on Kaufman & Broad SA to 'B+' from 'BB+' and removed them from the watch listThe rating agency said it has withdrawn its corporate credit and debt ratings on the French residential property developer at the company's request.The rating actions reflect the completion of a deal wherein parent KB Home sold its entire interest in the company to private equity firm PAI Partners, as well as the tender of the outstanding 150 mln eur of senior unsecured notes completed July 11.TFN.newsdesk@thomson.comran/gpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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PAI Partners has bought 50.28 pct of Kaufman et Broad 