Fitch Affirms MDC Holdings' IDR At 'BBB-'; Outlook Stable

(RTTNews) - Fitch Ratings said Tuesday that it has affirmed the ratings for MDC Holdings Inc. (MDC), including the company's Issuer Default rating at 'BBB-'.

The Rating Outlook is Stable.

Fitch said the low investment grade rating is supported by the company's focus on a short land supply, above average liquidity relative to its size, distant debt maturities, and steady, moderate improvement in its credit metrics.

MDC's ratings are also based on the company's execution of its business model in the current moderately recovering housing environment, and overall cautious land policies, the rating agency noted.