Fitch Ratings Confirms Kaufman & Broad's Investment Grade Rating

Fitch Ratings has confirmed Kaufman & Broad S.A.'s "BBB-" investment grade rating, maintaining a stable outlook since 2022. This reflects the company's solid commercial and financial profile, even during periods of low demand.

Fitch's assessment highlights several strengths. Key among them is the progress of the Gare d'Austerlitz project, Kaufman & Broad's largest non-residential endeavor, which remains on schedule. Additionally, the company maintains a net cash position, comfortably covering all upcoming debt maturities.

Targeted pre-sales and limited working capital needs also bolster Kaufman & Broad's financial stability, positively impacting its cash flow cycle. As the only pure homebuilder in Europe with an investment grade rating, this confirmation underscores Kaufman & Broad's robust financial structure and consistent cash flow generation.