Strong brand names and leading market positions in insulation, roofing products, and composites Good geographic and product diversity, particularly in composites business Demand is subject to cyclical construction markets and industrial demand and volatile pricing for composites Good profitability and cash flow even through cyclical downturns Solid track record of cash flow generation Strong liquidity with ample credit lines and cash balances Some volatility in credit measures due to construction cycles Generally prudent financial policy but past instances of aggressive share repurchases The rating outlook is stable. After the weaker-than-expected operating performance in 2012, we expect Owens Corning (OC) will post better results in its roofing, insulation, and composites segments in 2013, returning credit measures to levels that are more
