NY -- Standard&Poor's CreditWire 12/16/98 -- Standard&Poor's today revised the outlook for CCPC Holding Co., Inc. (CCPC) to negative from stable due to weaker-than-expected operating results since the April 1998 leveraged acquisition from Corning, Inc. Concurrently, the double-'B'-minus corporate credit and bank loan ratings for the company, as well as the single-'B' subordinated debt rating, were affirmed. Approximately $494 million of total debt was outstanding at Sept. 30, 1998. The outlook revision reflects weaker-than-expected operating results, primarily due to exposure to Asian markets. For the nine-month period ended Sept. 30, 1998, the company experienced a $3.5 million operating loss from Asian business (after depreciation and amortization), compared to $17.3 million in operating income from Asia for
