October 12, 2007 4:25 PM ET
Home builders likely to see further downgrades

NEW YORK (Reuters) - The downgrade of three home builders into junk territory by Moody's Investors Service may only be the start of a rash of cuts of high grade builders into high yield, which may present funding challenges for some companies.
Moody's Investors Service on Thursday cut its ratings on home builders Centex Corp , Lennar Corp and Pulte Homes to junk status, saying it expects bleak housing industry conditions to linger at least until 2009.

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