Moody's affirms WII Components

Moody's Investors Service said it affirmed WII Components Inc.' B2 senior notes rating and B1 corporate family rating. The outlook is stable.

The agency said that while the company's leverage has improved, free cash flow declined significantly during 2005.

The ratings reflect WII Components' weak free cash flow generation relative to debt levels, uncertainty regarding level of ongoing demand in the remodeling and new home construction market for the company's products, the company's margin vulnerability due to raw material price spikes and high customer concentration.

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