S&P: Martin Marietta on watch

Standard & Poor's said it placed Martin Marietta Materials Inc.'s BBB+ corporate credit rating and A-2 short-term debt rating on CreditWatch with negative implications.

S&P said the watch reflects weaker-than-expected second quarter operating results and the lowering of 2008 earnings guidance due to decreased aggregates volume and continued high energy costs.

The watch also reflects concern that given expectations for a more challenging operating environment over the next several quarters, Martin Marietta's credit measures will likely weaken during this period, according to the agency.

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