the 06/19/2008

No more improve in credit quality seen for US office furniture

 Office Furniture MUMBAI (Thomson Financial) - Standard & Poor's Ratings Servicessaid it does not expect further improvement in credit quality forrated companies in the U.S. office furniture industry until 2010 asit enters a period of weakening demand. The ratings agency said economic factors like corporateprofitability, capital spending, employment rates, and commercialoffice construction, influence this sector's performance addingthat the factors are all showing signs of weakening. S&P also said the demand for office furniture typically lags gainsin white-collar employment and capital spending, and added that thedemand is lThe copying, republication or redistribution of Thomson FinancialNews Content, including by framing or similar means, is expresslyprohibited without the prior written consent of Thomson FinancialNews. Neither the Subscriber nor Thomson Financial News warrants thecompleteness or accuracy of the Service or the suitability of theService as a trading aid and neither accepts any liability forlosses howsoever incurred. The content on this site, includingnews, quotes, data and other information, is provided by ThomsonFinancial News and its third party content providers for yourpersonal information only, and neither Thomson Financial News norits third party content providers shall be liable for any errors,inaccuracies or delays in content, or for any actions taken inreliance thereon.