S&P ups Century Communities

S&P said it raised its issuer credit rating on Century Communities Inc. to BB- from B+.

S&P also raised the rating on its senior notes to BB- from B+, while the 3 recovery rating on the debt remains unchanged.

The outlook is stable.

Profits at Century Communities remain on a “solidly upward trend, owing to strong volume-based growth,” S&P said in a news release.

“These stronger profits are resulting in continuing improvements in key leverage and coverage ratios for this top-10 homebuilder.”

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