Summary
The credit rating of Hovnanian Enterprises Inc. of Red Bank was lowered by Moody's Investors Service as demand for new homes deteriorates. Hovnanian's corporate credit rating was reduced to B3 from B2, Moody's said Thursday.
"The downgrades reflect Hovnanian's ongoing losses, high debt leverage, elevated inventory levels and cash flow generation that only recently turned positive," Moody's said.See the full content of this document
Extract
Moody's Lowers Hovnanian Rating
New home sa...
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