S&P gives Euramax notes B-

Standard & Poor's said it assigned its B- rating to $315 million of senior subordinated notes due 2013 to be issued by Euramax International Inc. and its wholly owned direct subsidiary, Euramax International Holdings BV.

The agency said it also affirmed its existing B+ corporate credit rating and all other ratings on the company.

The outlook is negative.

S&P noted the ratings on Euramax reflect the firm's highly leveraged financial profile and aggressive financial policy.

High financial risk is tempered by the firm's good niche positions for a number of its product lines, geographic diversity, moderate cyclical exposure, relatively stable operating margins and limited capital intensiveness, S&P added.

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