NEW YORK (Standard & Poor's) Aug. 8, 2008--Standard & Poor's Ratings Services said today it revised its outlook on building materials company CPG International Inc. to negative from stable. All ratings, including the company's 'B' corporate credit rating, were affirmed. The outlook revision follows the company's weaker-than-expected second quarter results and expectations of weaker earnings and cash flow in 2008, driven by the ongoing housing downturn and weak U.S. economy. In addition, the outlook revision reflects our uncertainties regarding the depth and duration of the current difficult operating conditions and the further impact this may have on the company's operating results. Still, CPG continues to have adequate near-term liquidity consisting of about $13 million in cash and $38 million in...
Companies mentioned in this report are:
- CPG International LLC
Action: Outlook: Negative
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Research type: News
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