Fitch Ratings said Friday that it has affirmed PulteGroup, Inc.'s (PHM: Quote) Issuer Default Rating and senior unsecured ratings at 'BB'.
The Rating Outlook has been revised to Stable from Negative.
Fitch said the ratings and Stable Outlook for PulteGroup reflect year-over-year improvement in operational and financial categories, especially net orders and gross profit margin, during recent quarters and better performance relative to its peers, a moderate housing recovery, broad geographic and product diversity, a long track record of adhering to a disciplined financial strategy and somewhat more recently an at times aggressive growth strategy.
The rating also takes into account the company's strong liquidity position as well as the successful execution of its debt repayment strategy following the merger with Centex in August 2009 and more recently.
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by RTT Staff Writer
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