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William Lyon Homes 'CCC' Rating Placed On CreditWatch Negative On Financial Statement Delays Product Image

William Lyon Homes 'CCC' Rating Placed On CreditWatch Negative On Financial Statement Delays

  • ID: 1714960
  • April 2011
  • Standard & Poors

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Abstract
OVERVIEW We are placing our ratings on California-based William Lyon Homes, including our 'CCC' corporate credit rating, on CreditWatch with negative implications. We placed the ratings on CreditWatch because the privately held homebuilder has not completed its fiscal year financial statements in accordance with the terms governing its publicly traded senior unsecured notes. We expect to resolve the CreditWatch on or around May 15, 2011, assuming that the company completes its financial statements within the grace period provided for by the indentures governing the notes. NEW YORK (Standard & Poor's) April 27, 2011-- Standard & Poor's Ratings Services today placed its 'CCC' corporate credit rating on California-based William Lyon Homes and its 'CC' rating on the company's unsecured notes on...

Companies mentioned in this report are: William Lyon Homes
Action: Outlook: Negative

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