NY -- Standard&Poor's CreditWire 6/20/96 -- Standard&Poor's today has affirmed Owens Corning's triple-`B'-minus senior debt rating, following a $545 million after-tax charge in the 1996 second quarter for asbestos claims received after 1999. Cash payments related to this charge will begin after the year 2000 and will be spread over 10-20 years. The rating reflects Owens Corning's status as the world's largest glass fiber products maker and improved cash flow protection measures, but also a weak balance sheet and hefty asbestos litigation claims. The company has leading market shares in insulation and roofing products, and composite materials. The cyclicality inherent in those businesses is mitigated by replacement demand for building materials, and the end-market and geographic
