S&P lowers Standard Pacific outlook to stable

Standard & Poor's said it revised its outlook on Standard Pacific Corp. to stable from positive, while affirming the company's ratings.

The agency noted that the outlook revision reflects challenging housing conditions that are expected to negatively affect profitability and coverage measures, which nonetheless should remain acceptable for the rating.

S&P added that leverage has risen and may increase further, but it should begin to decline in the latter half of 2007.

© 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.