The Wall Street Journal-20080130-Lennar Corp-

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Lennar Corp.

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Lennar Corp. disclosed in its annual report that it recently amended a credit facility to reduce the commitment to $1.5 billion from $3.1 billion. The Miami-based homebuilding and construction company said its operating results and the asset write-downs recorded during fiscal 2007 ended Nov. 30 caused its tangible net worth to be below the minimum required by the credit agreement.