S&P lowers Champion

Standard & Poor's said it lowered Champion Enterprises Inc. and subsidiary Champion Home Builders Co.'s corporate credit ratings to CCC- from CCC+.

The outlook is negative.

S&P said the downgrade reflects its assessment that Champion's ability to service its current capital structure over the intermediate term will be challenged given expectation for continued operating pressures in the near term due to weak demand for manufactured homes in the United States and deteriorating international sales as a result of the global economic slowdown.

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