Fitch Teleconference: U.S. Homebuilding Rating Action Recap 8/30 11 a.m. ET.

NEW YORK -- Fitch Ratings will be holding a conference call this Thursday morning, Aug. 30, at 11 a.m. ET to discuss its latest round of rating actions on U.S. homebuilders and what factors precipitated the rating actions.

Managing Director and call leader Bob Curran will also be providing insights on what to expect for the sector in the near and intermediate term.

Following are the details of Thursday's teleconference:

--Date: Thursday Aug. 30, 2007

--Time: 11:00 a.m. ET

--Conference ID: 15068371

--U.S./Canada: [phone]

--International: [phone]

--Call Leader: Bob Curran

Replay Information:

--Replay Dates: Aug. 30, 2007, 12:00 p.m. ET - Sept. 30, 2007 at 11:59 p.m. ET

--U.S./Canada: [phone]

--International: [phone]

--Replay ID: 15068371

Yesterday, Fitch took the following rating actions on the U.S. homebuilders listed below:

Centex Corp.

--Issuer Default Rating (IDR) downgraded to 'BBB' from 'BBB+';

--Rating Outlook revised to Negative from Stable.

D.R. Horton, Inc.

--Issuer Default Rating (IDR) affirmed at 'BBB-';

--Rating Outlook revised to Negative from Stable.

Hovnanian Enterprises, Inc.

--Issuer Default Rating (IDR) downgraded to 'BB-' from 'BB+';

--Rating Outlook remains Negative.

KB Home

--Issuer Default Rating (IDR) affirmed at 'BB+';

--Rating Outlook revised to Negative from Stable.

Lennar Corp.

--Issuer Default Rating (IDR) downgraded to 'BBB' from 'BBB+';

--Rating Outlook revised to Negative from Stable.

M/I Homes Inc.

--Issuer Default Rating (IDR) downgraded to 'BB-' from 'BB';

--Rating Outlook remains Negative.

MDC Holdings, Inc.

--Issuer Default Rating (IDR) affirmed at 'BBB';

--Rating Outlook revised to Negative from Stable.

Meritage Homes Corporation 

--Issuer Default Rating (IDR) downgraded to 'BB-' from 'BB';

--Rating Outlook revised to Negative from Stable.

NVR, Inc.

--Issuer Default Rating (IDR) affirmed at 'BBB';

--Rating Outlook remains Stable.

Ryland Group, Inc.

--Issuer Default Rating (IDR) affirmed at 'BBB-';

--Rating Outlook revised to Negative from Stable.

Standard Pacific Corp.

--Issuer Default Rating (IDR) downgraded to 'BB-' from 'BB';

--Rating Outlook remains Negative.

Toll Brothers, Inc.

--Issuer Default Rating (IDR) affirmed at 'BBB';

--Rating Outlook revised to Negative from Stable.

Fitch will also be publishing an in-depth homebuilding industry report early next week, which will be available on the Fitch Ratings web site at www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.