S&P: RLC outlook stable

Standard & Poor's said it revised the outlook on RLC Industries Inc. to stable from negative and affirmed its B- corporate credit rating.

"The rating outlook revision reflects our expectation that the company's credit measures will continue to improve over the next several quarters because of a gradual recovery in residential construction markets and benefits from cost savings initiatives, including headcount reduction and manufacturing improvements," S&P analyst Andy Sookram said in a statement.

The agency said it also expects the company to refinance its upcoming debt maturities, including its secured bank credit facilities due October 2011 and to maintain adequate financial covenant cushion under any new credit agreement.

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