Industry Report Card: North American Building Materials Oct 03
Standard & Poors, October 2003
Abstract
Standard & Poor's rates 34 building materials manufacturers and distributors based in the U.S. and Canada. Of the total, about two-thirds are rated within speculative grade and one-third within investment grade. The overwhelming majority have stable outlooks. There is one company on CreditWatch with developing implications, nine have negative outlooks, and only one has a positive outlook. Despite several years of strong housing markets and expectations that residential construction and remodeling markets will remain fairly strong for the next year, the outlooks are predominantly stable rather than positive because the financial profiles of most building materials and products companies are just reasonable or slightly subpar for their respective ratings. Of the nine situations with negative outlooks, some are experiencing weaker...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Trane U.S. Inc.
- Ashland Inc.
- Black & Decker Corp.
- Guardian Industries Corp.
- Holcim (U.S.) Inc.
- Lafarge North America Inc.
- Masco Corp.
- Nortek Inc.
- Stanley Black & Decker Inc.
- Jacuzzi Brands Inc.
- Legacy Vulcan Corp.
- York International Corp.
- Wolverine Tube Inc.
- Associated Materials LLC
- Congoleum Corp.
- Building Materials Corp. of America
- Martin Marietta Materials Inc.
- AMTROL Inc.
- Atrium Cos. Inc.
- MMI Products Inc.
- American Builders & Contractors Supply Co. Inc.
- Werner Holding Co. (DE) Inc.
- Henry Co. LLC
- BGF Industries Inc.
- Builders FirstSource Inc.
- NCI Building Systems Inc.
- Dayton Superior Corp.
- Interline Brands Inc.
- Therma-Tru Corp.
- Royal Group Technologies Ltd.
- Masonite International Corp. (Old)
- Lennox International Inc.
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