CPG International?s Outlook Is Revised To Negative; Ratings Affirmed Aug 08
- ID: 1723282
- August 2008
- Region: Global
- Standard & Poors
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 Inc.
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.