S&P affirms Vulcan Materials

Standard & Poor's said it affirmed Vulcan Materials Co.'s A- corporate credit and A-2 commercial paper ratings following the closing of the company's merger with Florida Rock Industries Inc.

All ratings were removed from CreditWatch, where they had been placed with negative implications on Feb. 20, 2007, and the outlook is stable.

The agency said the affirmation and CreditWatch removal reflect the improved market position of Vulcan as a result of the transaction, as the addition of Florida Rock increases Vulcan's reserves by close to 20% and enhances Vulcan's presence in its markets, many of which have solid long-term growth characteristics.

These strengths are somewhat tempered by the cyclicality of residential and commercial construction, S&P said.

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