S&P ups PPG outlook to stable

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

At the same time, S&P said it affirmed its BBB+ corporate credit, BBB+ senior unsecured debt, and A-2 short-term ratings on the company.

"The ratings on PPG Industries primarily incorporate its strong business profile, supported by competitive positions in large coatings markets and meaningful geographic diversity of the sales base with more than 50% of sales outside North America," said S&P credit analyst Liley Mehta.

The ratings also reflect prospects for improving earnings and operating margins over the business cycle and for meaningful discretionary cash flows, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.