S&P lowers Contech

Standard & Poor's said it lowered its ratings on Contech Construction Products Inc., including the corporate credit rating to CCC from B-.

All ratings remain on Creditwatch, where they were placed with negative implications on June 18, the agency said.

"The downgrade and Creditwatch status reflects its assessment that continued challenging levels of commercial construction activity and lower-than-expected residential construction activity are likely to continue to constrain Contech's operating results in the near term," said credit analyst Thomas Nadramia.

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