Thursday, April 26, 2007

Moody's Concerned about Homebuilder Cash Flow

From Reuters: US homebuilder cash flows a ratings threat-Moody's
Less than half of Moody's rated home builders posted positive cash flows for the year through the end of 2006 ...

This "underscores a potentially serious problem and signals that their current ratings may be too high," said Moody's Vice President Joseph Snider.