Barratt to write down land holdings

LONDON (Reuters) - Housebuilder Barratt Developments (BDEV.L) will this week write down the value of its land holdings by about 100 million pounds, the Sunday Telegraph reported, without citing sources.

Barratt will also provide details of a waiver of its banking covenants, attempting to reassure investors about its financial health, the paper said.

Officials at Barratt were not immediately available for comment.

Last Monday, rival builder Taylor Wimpey (TW.L) warned of a "significant downturn" in the UK housing market and an expected 660 million pound writedown in the value of its assets.

Barratt and Taylor Wimpey are among the UK's most-indebted housebuilders.

(Reporting by Hsu Chuang Khoo; Editing by Erica Billingham)