Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable - S&P Global Ratings’ Credit Research

Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable

Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable - S&P Global Ratings’ Credit Research
Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable
Published Oct 10, 2012
1443 words — Published Oct 10, 2012
Price US$ 150.00  |  Buy this Report Now

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Abstract:

OVERVIEW U.S.-based Owens Corning Inc. (OC) lowered its earnings guidance for 2012 on weaker than anticipated shipments of roofing shingles and lower profits in its composites business. We expect adjusted debt to EBITDA will be weaker than our prior expectation of about 3.5x, increasing to 4x by year end. We affirmed our ratings on the company, including the 'BBB-' corporate credit rating. The stable outlook reflects our expectation that operating performance will improve in 2013 due to cost actions taken in OC's composites segment and expected improved demand for the company's building products due to higher U.S. housing starts in 2013. NEW YORK (Standard&Poor's) Oct. 10, 2012--Standard&Poor's Ratings Services said today it affirmed its ratings, including

  
Brief Excerpt:

RESEARCH Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable Publication date: 10-Oct-2012 Primary Credit Analyst: Thomas J Nadramia, New York (1) 212-438-3944; thomas_nadramia@standardand...

  
Report Type:

Ratings Action

Ticker
OC
Issuer
Owens Corning
GICS
Building Products (20102010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
HTML HTML
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Owens Corning's New Senior Notes 'BBB-' – 2012/10/17 – US$ 150.00

Summary: Owens Corning – 2013/04/24 – US$ 225.00

Summary: Owens Corning – 2014/04/08 – US$ 225.00

Summary: Owens Corning – 2015/08/13 – US$ 225.00

Summary: Owens Corning – 2012/05/30 – US$ 225.00

Owens Corning – 2011/11/10 – US$ 500.00

Summary: Owens Corning – 2011/11/10 – US$ 225.00

Summary: Owens Corning – 2011/05/23 – US$ 225.00

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MLA:
S&P Global Ratings’ Credit Research. "Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable" Oct 10, 2012. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Owens-Corning-Ratings-Affirmed-On-Improving-Housing-Markets-Despite-Lower-Earnings-Guidance-For-2012-Outlook-Stable-1021827>
  
APA:
S&P Global Ratings’ Credit Research. (). Owens Corning Ratings Affirmed On Improving Housing Markets Despite Lower Earnings Guidance For 2012; Outlook Stable Oct 10, 2012. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Owens-Corning-Ratings-Affirmed-On-Improving-Housing-Markets-Despite-Lower-Earnings-Guidance-For-2012-Outlook-Stable-1021827>
  
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