Owens Corning has raised its free cash flow guidance for full-year 2009 to $250 million from $200 million. In our view, U.S. housing markets and the general economy should begin to recover in the next several quarters, thereby lessening the downside risk for Owens Corning's financial results over the next two years. We are affirming our 'BBB-' corporate credit rating on the company. We are revising the outlook to stable from negative, reflecting our view that the company will produce positive cash flow despite very weak housing markets. NEW YORK (Standard&Poor's) Oct. 8, 2009--Standard&Poor's Ratings Services today affirmed its 'BBB-' ratings on Toledo, Ohio-based Owens Corning and revised the outlook to stable from negative. "The rating
