S&P cuts Euramax outlook to negative

Standard & Poor's said it revised its outlook on Euramax International Inc. to negative from stable.

At the same time, S&P said it affirmed its ratings on the company, including its B corporate credit rating.

The outlook revision reflects the company's weakened performance due to challenging market conditions in the domestic recreational vehicle and residential housing markets, the agency said.

The ratings on Euramax reflect the firm's highly leveraged financial risk profile and aggressive financial policies. Euramax's financial risk is tempered by the leading niche market position enjoyed by some of the company's product lines, some geographic diversity and limited maintenance capital requirements, S&P noted.

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