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A Little Froth With Your Coffee?

|Includes: Beazer Homes USA, Inc. (BZH)

Last Thursday Beazer managed to place $250 million of new 7+ year debt.  Let's see, a homebuilder, rated B1/CCC+, that is not that far removed from a time when it cooked the books, and which is in shouting distance of violating a tangible net worth covenant which requires the repurchase of debt can obtain new funding from the credit markets.  Green shoots everywhere!!