Hovnanian enterprises announces credit rating upgrade from s&p global ratings

Matawan, n.j., june 12, 2024 (globe newswire) -- hovnanian enterprises, inc. (nyse: hov), a leading national homebuilder, today announced that s&p global ratings (“s&p”) has upgraded hovnanian's issuer credit rating to ‘b' from ‘b-' citing better than expected debt leverage, sustained community count growth, steady demand in home sales and a focus on cash flow management, which will allow the company to grow the business through internally generated cash flows as contributing factors in a press release issued on june 11, 2024. s&p's outlook for hovnanian is stable.
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