S&P: Armstrong World stable

Standard & Poor's said it revised its outlook on Armstrong World Industries Inc. to stable from negative.

At the same time, S&P said it affirmed its ratings on the company, including the BB- corporate credit rating.

"The outlook revision reflects our view that Armstrong will continue to reduce leverage due to improving profitability, despite relatively weak sales growth, to levels we would consider to be in line with the BB- rating given our view of the company's fair business risk profile," said S&P credit analyst Megan Johnston in a news release.

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