Kaufman & Broad: Fitch confirms investment grade rating

(CercleFinance.com) - Kaufman & Broad has announced that Fitch Ratings has confirmed its "Investment grade" rating, at "BBB-", with a "stable" outlook, in particular citing its robust business model.


The rating agency points to a strict pre-commercialisation policy and a high level of operating cash flow, helped by controlled working capital requirements throughout project development phases.

Meanwhile, the property developer said that Fitch's confirmation of this rating - in a difficult environment - underlines the strength of its financial structure and its ability to generate substantial cash flow on a structural basis.


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