-- A weak economy and difficult industry conditions have resulted in declining operating performance in recent quarters and a deterioration in key credit measures. -- Although Herman Miller's expense reduction initiatives should partially offset the impact from lower volumes, we believe credit measures will remain under pressure over the near term. -- We are affirming the 'BBB' corporate credit rating. -- We are revising the outlook to negative from stable, reflecting our expectation of ongoing weak operating performance over the next year. NEW YORK (Standard&Poor's) Aug. 6, 2009--Standard&Poor's Rating Services said today it revised its outlook on Herman Miller Inc. to negative from stable. At the same time, Standard&Poor's affirmed its ratings on the
