S&P rates Jeld-Wen bonds at junk status

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PORTLAND, Ore. (AP) -- The Standard & Poor's ratings agency has assigned junk status to bonds Jeld-Wen is trying to sell for refinancing debt.

Selling $575 million in bonds is a prerequisite for an $864 million infusion from a Toronto investment firm, Onex Corp.

The Oregonian reports (http://bit.ly/phPhMo ) the Klamath Falls-based window and door maker is trying to refinance debt under tough market conditions.

S&P says the non-investment grade rating reflects the company's risk in the currently depressed residential construction and remodeling industry.

Jeld-Wen has 20,000 employees worldwide, 2,500 in Oregon.

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Information from: The Oregonian, http://www.oregonlive.com