Our 'BBB-' rating on Owens Corning is derived from: Our anchor of 'bbb-', based on our "satisfactory" business risk and "significant" financial risk profile assessments for the company. The modifiers had no impact on the company's stand-alone credit profile. Strong brand names and leading market positions in roofing products, insulation, and composites Good geographic and product diversity, particularly in composites business Demand for Owens Corning's building products is subject to cyclical construction markets and its composites products faces a volatile pricing environment Good profitability and cash flow even through cyclical downturns Solid track record of consistent cash flow generation Strong liquidity with ample credit lines and cash balances Some volatility in credit measures due to construction cycles Generally prudent financial
