January 9, 2013 / 4:56 PM / 5 years ago

TEXT-Fitch updates recovery analyses for US homebuilding, materials issuers

Jan 9 () - Link to Fitch Ratings' Report: U.S. Homebuilding, Building, and
Home Products and Services Recovery Models - Third-Quarter 2012Jan 9 - Fitch Ratings has published updated recovery analyses for U.S.
Homebuilders and Building Materials companies, including:

--Beazer Homes USA, Inc.
--Hovnanian Enterprises, Inc.
--KB Home
--M/I Homes, Inc.
--Meritage Corp.
--Standard Pacific Corp.
--USG Corporation

Fitch has made a change in its 'Recovery Ratings and Notching Criteria'. This
revision reflects the insertion of additional notches into Fitch's master rating
scale for instrument ratings and does not reflect any change in Fitch's view of
the creditworthiness of the company or the instrument affected in this rating

The interactive recovery analysis worksheets are available at
'www.fitchratings.com' under the following headers:

Sectors >> Corporate Finance >> Corporates >> Research

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:
--'Corporate Rating Methodology' (Aug. 8, 2012);
--'Recovery Ratings and Notching Criteria for Nonfinancial Corporate Issuers'
(Aug. 14, 2012);
--U.S. Homebuilding Industry - Recovery Rating Methodology, (April 7, 2008).

Applicable Criteria and Related Research:
Corporate Rating Methodology
Short-Term Ratings Criteria for Non-Financial Corporates
US Homebuilding Industry -- Recovery Rating Methodology
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