Fitch Ratings Upgrades Meritage Homes' IDR To 'BB-'; Outlook Revised To Stable

(RTTNews) - Fitch Ratings said Friday that it has upgraded the Issuer Default Rating of Meritage Homes Corp. (MTH) to 'BB-' from 'B+'.

The Rating Outlook is revised to Stable from Positive.

Fitch said the ratings and Outlook for Meritage Homes are influenced by the company's execution of its business model, conservative land policies, geographic diversity and healthy liquidity position.

The ratings and Outlook also take into account Fitch's expectation of further moderate improvement in the housing market in 2014 and 2015, share gains by the company and hence volume outperformance relative to industry trends as the market continues its focus on trade-up housing and Meritage Homes' better profitability and sharply improved credit metrics.