(Reuters) - "The negative ratings outlook reflects Moody's expectation
that Horton's credit metrics will continue to erode as
home-building industry conditions are expected to be
challenging throughout 2007, and any recovery in 2008 is likely
to be sluggish," Moody's said in a statement.
Horton in April reported an 85 percent plunge in fiscal
second-quarter earnings, in part due to charges related to the
lower value of land. For details, see [ID:nN19363456].
Read more at Reuters.com Bonds News
that Horton's credit metrics will continue to erode as
home-building industry conditions are expected to be
challenging throughout 2007, and any recovery in 2008 is likely
to be sluggish," Moody's said in a statement.
Horton in April reported an 85 percent plunge in fiscal
second-quarter earnings, in part due to charges related to the
lower value of land. For details, see [ID:nN19363456].
Read more at Reuters.com Bonds News
No comments:
Post a Comment