Leading market shares; Strong brand names; Good product, geographic, and end-market diversity; and Good liquidity and operating cash flow generation through a cycle. Exposure to highly cyclical residential construction markets; Highly competitive industry; and Prospects for weak near-term demand and earnings. The ratings on Toledo, Ohio-based Owens Corning reflect the company's satisfactory business risk profile, supported by leading market positions, well-known brand names, and good product, geographic, and end-market diversity. The ratings also reflect the company's participation in cyclical and competitive markets, current depressed U.S. housing demand, and a weak global economy. The company's intermediate financial risk profile reflects adequate liquidity throughout a cycle, improving cost structure, and good operating cash flow generation. Owens Corning manufactures composite materials and building
