Research Update: William Lyon Credit Rating Raised To 'CC' After Making Missed Payment, Issue Rating Raised To 'C'; Outlook Negative Sep 11
- Language: English
- Published: September 2011
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Research type: News
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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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William Lyon Homes