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S&P puts Masco on watch
Standard & Poor's said it placed Masco Corp.'s BBB+ corporate credit rating on CreditWatch with negative implications.
The CreditWatch placement reflects weaker-than-expected third-quarter operating results and lowering of Masco's 2008 earnings guidance because of a steeper decline in repair and remodeling activity and weaker European demand for plumbing, cabinets and windows, according to the agency.
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