AcceptAllChangesShown "Eric Tanguy, Paris, (33) 1-4420-6715;" The ratings on leading France-based construction and engineered materials manufacturer and distributor Compagnie de Saint-Gobain (Saint-Gobain) reflect Standard&Poor's Ratings Services' view of its "strong" business risk profile. Underpinning this are a broad business mix, geographic diversity, large size, and solid market positions. Partly offsetting these strengths is Saint-Gobain's "significant" financial risk profile; and its exposure to cyclical end-markets, notably construction and auto, and to energy and raw material input costs. Sales for the first half of 2010 were somewhat more resilient than we had anticipated: Reported sales for the first six months of 2010 actually increased by 1.0% on a like-for-like basis, compared with the severe 13.2% fall reported for full-year 2009.
