Kaufman & Broad has just announced that Fitch Rating has confirmed its 'Investment grade' rating, with a 'BBB-' and 'stable' outlook, citing in particular the robust profile of its business model.

The rating agency points to 'a strict pre-commercialization policy and a high level of operating cash flow favored by controlled working capital requirements throughout the project development phase'.

Fitch's confirmation of this rating in a difficult environment highlights the strength of the Group's financial structure and its ability to generate substantial cash flow on a structural basis", comments the property developer.

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