S&P drops Vulcan to negative

Standard & Poor's said it revised the outlook on Vulcan Materials Co. to negative from stable.

The agency also said it affirmed its BB corporate credit rating.

The outlook revision reflects weaker year-to-date operating results for Vulcan and an assessment that credit measures are not likely to improve as overall construction activity in the United States remains sluggish, S&P said.

The agency said it expected a slight recovery in construction activity as 2011 progressed and a more robust recovery beginning in 2012.

But new housing starts have remained at trough levels and bad weather in much of the country has delayed or reduced construction activity, S&P said.

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