Summary: Georgia Gulf Corp. Dec 11

Standard & Poors, December 2011

Abstract
The ratings on U.S.-based commodity chemicals company Georgia Gulf Corp. reflect the improvement in the company's operating performance and debt measures, as well as Standard & Poor's Ratings Services' expectation that Georgia Gulf will be able to at least maintain its improved credit metrics in the future. The key ratio of funds from operations (FFO) to total adjusted debt was about 26% as of Sept. 30, 2011, exceeding our expectations for the rating on Georgia Gulf. The ratio provides the company with some cushion during periods of volatile earnings and also to execute potentially debt-funded capital spending or growth programs, while maintaining credit quality at current levels. This ratio is up from about 19% for the corresponding period in 2010....

Companies mentioned in this report are: Georgia Gulf Corp.
Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Georgia Gulf Corp.

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