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Ryland Rating Cut to ‘Junk’

Homebuilder and mortgage financier Ryland Group had its corporate and unsecured debt ratings downgraded to “junk” status by Standard & Poors Ratings Service on May 1. The S & P; announcement said the “very weak” housing market and Rylands “relatively limited liquidity” as reasons for the cut; conditions which S & P; said are not expected to improve in the next year. The move follows Moody’s downgrading of Calabasas-based Ryland in December.

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