trending Market Intelligence /marketintelligence/en/news-insights/trending/ltt0dfqzu4bt1eq78x7ptq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fitch upgrades M/I Homes rating, revises outlook

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Fitch upgrades M/I Homes rating, revises outlook

Fitch Ratings upgraded M/I Homes Inc.'s long-term issuer default rating to BB- from B+ and changed the homebuilder's rating outlook to stable from positive.

The rating agency also affirmed the company's senior unsecured notes and unsecured revolver at BB- while revising the recovery ratings to RR4 from RR3.

Fitch attributed the ratings to M/I Homes' stable credit metrics, conservative land policies, healthy liquidity position and how the company carried out its business model in the current housing landscape. It lauded the company on how it handles land and development expenses.

The rating agency, however, argued that M/I Homes' somewhat restricted geographic diversity and high speculative inventory levels relative to its homebuilding peers, as well as the cyclical nature of the homebuilding sector could pose risks.