Leading market shares; Strong brand names; Good product and geographic diversity; Improving mix of end markets; and Good cash flow generation. Exposure to cyclical residential construction markets; Highly competitive industries; Price pressures in certain segments; and Elevated raw material and energy costs. The ratings on Toledo, Ohio-based Owens Corning reflect the company's strong leading market positions, well-known brand names, good product and geographic diversity, increasing end-market diversity, and moderate financial policies. The ratings also reflect cyclical and competitive markets, current depressed U.S. housing demand, and cost pressures. Owens Corning manufactures building products and composite materials. Its primary businesses are insulation, roofing and asphalt, glass fiber reinforcement products (composites), and manufactured stone veneer. Although the global composites industry is highly competitive,
