Dec 12, 2006. /Lesprom Network/. Standard & Poor's Ratings Services said on December 8 that it revised its outlook on Rock-Tenn Co. to stable from negative. At the same time, Standard & Poor's affirmed all its ratings including its 'BB' corporate credit rating on the Norcross, Gergia-based company. "The outlook revision reflected favorable industry conditions, improved operating margins and cash flow, and debt reduction in line with our expectations," said Standard & Poor's credit analyst Pamela Rice. "We believe that improved paperboard prices, higher operating rates, and lower costs over the intermediate term should permit Rock-Tenn to continue its recent track record of reducing debt. Rock-Tenn is a leading folding-carton and paperboard manufacturer. "We could revise the outlook to negative if the company makes a large debt-financed acquisition or its earnings weaken because of a material decline in prices or increase in natural gas costs," Ms. Rice said. "We could also revise the outlook to negative if there are structural changes in the industry, including further customer consolidation or substitution of the company's products with other paper-based or plastic packaging. Although less likely, we could revise the outlook to positive if financial performance improves substantially, which we believe can be sustained, and management makes a firm commitment to a less aggressive financial policy."