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Moody's changes Beazer Homes outlook to stable from SNL Real Estate Daily Moody's changes Beazer Homes outlook to stable BYLINE: Aimen Hakim Moody's changed Beazer Homes USA Inc.'s outlook to stable from positive and affirmed all existing ratings on the homebuilder, including its B3 corporate family rating and B3 senior unsecured notes rating. The outlook change was caused by the Atlanta-based company's continued high debt leverage, as measured by Moody's homebuilding debt-to-capitalization ratio, which came in at 72% as at March 31. The rating agency believes that it will take a longer for Beazer Homes to improve credit metrics toward a level consistent with a higher rating due to reduced growth expectations for the homebuilding sector. The stable outlook reflects Moody's views that the company will continue to focus on deleveraging and achieving its operating goals, supported by healthy conditions in the homebuilding industry, according to the report. |
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