S&P lowers Exopack outlook to negative

Standard & Poor's said it revised its outlook on Exopack Holding Co. to negative from stable.

The agency said it affirmed all ratings on the company including the corporate credit rating.

According to the agency, the outlook revision reflects its heightened concern about Exopack's liquidity, uncertainty regarding operating results in the next few quarters spurred by the volatility in resin costs, and a weakening demand for building products.

Reduced availability under Exopack's revolving credit facility is a key concern in light of greater working capital needs because of increased resin costs in early 2008, S&P noted.

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