S&P cuts Newell Rubbermaid outlook to negative

Standard & Poor's said it revised its outlook on Newell Rubbermaid Inc. to negative from stable.

At the same time, the agency said it affirmed all of its ratings on the company, including its BBB+ corporate credit rating.

S&P added that the outlook revision reflects the company's weaker earnings expectation for the remainder of fiscal 2008 as a result of significant raw material price inflation.

As a result, S&P said it believes the company will find it difficult to improve credit measures over the near to intermediate term as previously anticipated.

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