trending Market Intelligence /marketintelligence/en/news-insights/trending/GqPt1F8Uo1bZAbyc1Q0VZg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fitch affirms Beazer Homes ratings, changes outlook

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Fitch affirms Beazer Homes ratings, changes outlook

Fitch Ratings affirmed its issuer default rating on Beazer Homes USA Inc. at B- and changed the outlook to positive from stable.

The rating agency also affirmed the company's senior secured revolving credit facility at BB-/RR1, senior unsecured notes at B-/RR4 and junior subordinated notes at CCC/RR6.

Fitch attributed the B- issuer default rating to the company's higher leverage and other weaker credit metrics that provided a relatively thin cushion to absorb a housing downturn compared with most of its peers.

The positive outlook reflects the rating agency's expectations that Beazer's debt-to-EBITDA ratio will be roughly 8x by the end of fiscal year 2017 and 6.6x by the end of fiscal year 2018, and that the net debt-to-capitalization ratio will be about 64% by the end the current fiscal year and 60% by the end of fiscal year 2018.