Rating agency Fitch Ratings has just affirmed Kaufman & Broad's investment grade - ‘BBB-’ rating with a stable outlook.
Fitch Ratings, the US international credit rating agency, rates companies on several criteria, including the nature of the debt they hold and their ability to implement structural reforms. Kaufman & Broad’s rating is based on a robust business model that is based on pre-marketing discipline and high operating cash flow driven by a need for well managed working capital throughout the project development phase.
Kaufman & Broad is currently the only pure homebuilder in Europe with an Investment Grade rating. Fitch’s confirmation of this rating in a challenging environment highlights the company’s robust financial structure and its ability to generate substantial cashflow structurally.
