Fitch: PPG outlook negative

Fitch Ratings said it affirmed PPG Industries, Inc.'s long-term issuer default rating at A-, senior unsecured debt at A-, short-term issuer default rating at F2 and commercial paper at F2.

The outlook was revised to negative from stable.

The affirmations reflect a geographically well-balanced company with a heightened focus on its coatings and optical businesses, consistent strong earnings and excellent cash flow, the agency said.

Risk factors include a higher leverage profile, the cyclicality of certain of PPG's end-markets, often volatile raw materials and energy costs, and the company's exposure to asbestos litigation, Fitch said.

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