Fitch Ratings Affirms Owens Corning's IDR At 'BBB-'; Outlook Stable

(RTTNews) - Fitch Ratings said Thursday that it has affirmed the ratings of Owens Corning (OC), including its Issuer Default Rating, at 'BBB-'.

The Rating Outlook is Stable.

Fitch said the ratings for Owens Corning reflect the company's leading market position in all of its major businesses, strong brand recognition, and end-product and geographic diversity. Risks include the cyclicality of the company's end-markets and currently weak credit metrics relative to its rating level.

The Stable Outlook reflects Fitch's expectation that demand will grow during the remainder of 2013 and into 2014 as the housing market maintains its moderate recovery and commercial construction activity improves from cyclical lows.

The ratings and Stable Outlook also incorporate Owens Corning's solid liquidity position, Fitch said.