Homebuilder

Beazer Homes

(BZH) - Get Report

said Tuesday it increased its existing revolving credit facility by $250 million.

The revolving credit facility, which matures in August 2009, now provides for borrowings of up to $1 billion.

"The increase in our revolving credit facility provides Beazer Homes with enhanced liquidity to continue to opportunistically grow our business," the Atlanta-based company said.

The company's stock closed down 78 cents, or 1.7%, to $45.20 Tuesday.

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