S&P affirms Werner, view negative

Standard & Poor's said it affirmed its CCC+ corporate credit rating on Werner Holding Co. Inc. and revised its outlook to negative from stable.

S&P said the rating action reflects the expectation of weaker earnings as a result of continued pressure from transportation costs and raw material prices, especially aluminum, and added weaker financial performance could lead to covenant violations.

The ratings on Werner reflect the company's significant customer concentration, the competitive environment in its niche and cyclical markets, a very aggressive financial profile and interest-rate and refinancing risks, the agency noted.

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