NEW YORK (Standard&Poor's) Nov. 26, 2001--Standard&Poor's today revised its outlook on American Builders&Contractors Supply Co. Inc. to stable from negative. The revision reflects the strengthening of cash flow measures to satisfactory levels and the moderation of acquisition activity. The ratings on American Builders&Contractors Supply (BB-/Stable/--) incorporate its leading position in the wholesale distribution of roofing products and relatively stable product demand. These positives are offset by highly competitive and fragmented markets, a narrow product line, low distribution operating margins (5.7% average for recent years), and aggressive debt leverage. American Builders is the largest wholesale distributor of roofing products and one of the largest distributors of vinyl siding in the U.S., primarily serving
