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Article: Rating on MDC Holdings Inc. Affirmed;Outlook Positive.
- Article from:
- Business Wire
- Article date:
- February 10, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
Feb. 10, 2003--Standard & Poor's Ratings Services today affirmed its 'BB+' corporate credit rating on MDC Holdings Inc. At the same time, the outlook is revised to positive from stable.
The rating actions acknowledge MDC's solid overall financial profile, including strong cash flow protection measures and modest leverage, and meaningful efforts to improve geographic diversity. These strengths are tempered by an ongoing concentration in soft markets (primarily Colorado) and a lack of operating history in its recently expanded markets.
Denver, Colo.-based MDC focuses on ...