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S&P lifts PulteGroup from junk
S&P said it raised its issuer credit rating on PulteGroup Inc. to BBB- from BB+. The outlook is stable.
S&P also raised the issue-level rating on Pulte's senior notes to BBB- from BB+.
PulteGroup's growing profits have lifted cash levels and cut adjusted debt, S&P noted. Also, the company’s lower-capital land strategies are reducing inventory-based risks while enhancing returns and free cash generation.
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