Summary: Beazer Homes USA Inc. Dec 11
- ID: 2034869
- December 2011
- Region: United States
- Standard & Poors
Our ratings on Beazer Homes USA Inc. reflect the homebuilder's vulnerable business risk profile. This profile mirrors our expectations for continued weak demand, which will constrain profitability over the next 12 months. We consider the financial risk profile to be highly leveraged, given Beazer's heavy debt load and sizable interest obligations. We also acknowledge the company's success in pushing scheduled debt maturities to 2015 and beyond. Atlanta-based Beazer, one of the larger public builders in the U.S., closed 3,249 homes for the fiscal year ended Sept. 30, 2011. The company primarily targets the first-time homebuyer. Roughly two-thirds of Beazer's sales occurred in this segment with an average selling price (ASP) of $219,000. Beazer also created a preowned homes division in...
Companies mentioned in this report are: Beazer Homes USA Inc.
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