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KB Home -- Moody's upgrades KB Home's CFR to Ba3; outlook stable

The company's Speculative-Grade Liquidity Rating was affirmed at SGL-2. The ratings upgrade reflects KB Home's deleveraging accomplished through its debt reduction strategy, and Moody's expectation that the company will maintain conservative financial policies and continue to de-lever in line with its stated total debt to capitalization target of 35% to 45%.