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. On Oct. 10, 2012, Standard&Poor's Ratings Services affirmed its ratings, including its 'BBB-' corporate credit rating, on Toledo,
