For more information, visit http://www. The combined effect of Hurricanes Jeanne, Ivan, Frances , and
Charley in 2004 was almost as large, with nearly 27,500 housing units
destroyed, according to estimates compiled by the American Red Cross.
Of necessity, rebuilding will have to wait.

supervolcanoes freeze

McCain-Lieberman Loses Ground - Only 38 Votes for Costly Policy

WASHINGTON, Declaring it a clear endorsement for
the President's climate change policy before the G8 summit, United for Jobs
today commended the sixty senators who voted against the McCain-Lieberman
"Climate Stewardship Act." The 60-38 vote is a clear rejection of the costly,
jobs-killing proposal authored by Senators John McCain (R-AZ) and Joseph
Lieberman (D-CT), according to the group.

LNG Shipping Projects May Be Voyaging Toward Investment-Grade Territory S+P Report Says

com . WASHINGTON, Economists for the National
Association of Home Builders (NAHB) today released the following report on how
the destruction spawned by Hurricane Katrina could affect the price and supply
of building materials .
natural disaster.
Although the loss of tens of thousands of homes implies increased demand
for, and construction of, new homes, past experience has shown that there is
no massive surge in home building in affected areas.

acknowledged hemispheric

united4jobs.

temperatures geologists

Homes were rebuilt or replaced very slowly.

lying hazard

trigger acknowledged

terrifying lying

The full study can be accessed online at
http://www.
Congestion caused by diversion of shipping to other ports will also
probably disrupt some supplies of materials, as will land transportation
problems caused by damage to roads, rail, and reload centers.

catastrophes plunging

NAHB Releases Study on Impact of Katrina

The repair
process will absorb much of the construction labor near the affected area and
several key materials that would otherwise have been used to build new homes. in 2004. The combination of greater (partly
speculative) demand and disrupted supply produced a spike in lumber and panel
prices in the final days of August 2005.0 percent of the state, but that number still wasn't much greater than
what might have been expected if there hadn't been a hurricane.

terrifying eruption

Because LNG ships are part of the value chain linking the LNG
plant and the regasification terminal, debt ratings on LNG ships will largely
derive from the rating on the LNG plant, which in most cases will set a
ceiling for the ratings potential.ratingsdirect.com .standardandpoors."
Katrina also caused widespread immediate damage in Louisiana, Mississippi,
and Alabama, but the flooding in New Orleans, Mobile, and elsewhere is likely
to translate into much larger numbers of homes destroyed.

scarcely sending

Replacing units
destroyed by the storm will not begin for many months and will take place
slowly, over a number of years. That share of the state was slightly lower than the
county's 7.

devastating yellowstone

NEW YORK, Global project finance LNG shipping
transactions have the potential to reach investment-grade credit ratings,
according to a report published today by Standard + Poor's Ratings Services
titled "Global LNG Shipping Projects May Be On Course For Investment Grade. If
you are not a RatingsDirect subscriber, you may purchase a copy of the report
by calling (1) 212-438-9823 or sending an e-mail to
research_request@standardandpoors .

About Standard + Poor's
Standard + Poor's, a division of The McGraw-Hill Companies (MHP), is the
world's foremost provider of independent credit ratings, indices, risk
evaluation , investment research and data.
In Dade County (now called Miami-Dade), the number of residential permits
was 9,026 or 7. following
the 1991 fires and Charleston, S.

catastrophes freeze

"
The strong global demand for liquefied natural gas (LNG) attracts huge
investment for construction and operation of LNG liquefaction plants, LNG
ships, and LNG regasification terminals, largely on a nonrecourse project
financing basis.
"Few LNG projects are rated, but the overall credit profile for LNG plants
with tight construction, solid operations, and long-term offtake arrangements
with strong counterparties generally argues for investment-grade ratings,
provided the host country also has an investment-grade rating and a good
business climate," said Standard + Poor's credit analyst Terry Pratt. The immediate need will be to
clean up and repair damage to structures that are still viable.

erupt hemispheric

The 1906 San Francisco
earthquake/fire reportedly destroyed 28,000 "buildings.
Additionally, imports of building materials will be disrupted by the
damage to port facilities. Cement
imports, in particular, involve the use of specialized terminal facilities.

yellowstone overdue

The article focuses on key credit analysis aspects of LNG shipping
projects. Ratings information can also be found
on Standard + Poor's public Web site at http://www. Past experience, together with the visible devastation,
provides some basis for projecting the effects on construction activity, the
supply and cost of building materials and construction labor, and other
implications for the housing market. New Orleans was the top destination for imports of
cement and a number of other building materials into the U.

devastating geologists

United for Jobs is a project of the National Black Chamber of Commerce,
Small Business + Entrepreneurship Council and National Association of
Neighborhoods.com ; under
Credit Ratings in the left navigation bar , select Find a Rating, then Credit
Ratings Search. All Standard + Poor's research information is accessible for
24 hours after publication on the public Web site. Although the floods
generally did not tear off roofs or walls or cause structures to collapse,
many homes will be permanently uninhabitable ., after Hurricane Hugo in 1989, was
similar.

collapse destroyed

Standard + Poor's uses its project finance rating criteria to rate
LNG shipping transactions.
The report is available to subscribers of RatingsDirect, Standard + Poor's
Web-based credit research and analysis system, at http://www . With approximately 6,300 employees
located in 20 countries and markets, Standard + Poor's is an essential part of
the world's financial infrastructure and has played a leading role for more
than 140 years in providing investors with the independent benchmarks they
need to feel more confident about their investment and financial decisions.S.9 percent share in 1991.

sooner destroyed

Senate Gives President Mandate to Stay the Course on Climate Change Policy

standardandpoors. Members of the media may
request a copy of this report by contacting the media representative provided. The flood waters carried
contaminants that cannot easily be removed, and even if the water were clean,
prolonged submersion would cause structures to be damaged beyond repair. By 1995, there was an increase to 14,718
or 12.

hemispheric destroyed

The New Orleans and Mobile customs districts reported about 12 percent of
national cement imports in 2004 .
The experience in other areas, such as Alameda County, Calif.

devastating freeze

com. In
those cases, most of the destruction was caused by winds or the immediate
force of the storm surge.
The materials that will be most affected include roofing and wood panels
(plywood and OSB).
The areas affected by the storm have a significant number of wood product
facilities that may have been damaged or destroyed .

eruption devastating

These criteria have served as the foundation for
rating more than 500 project finance transactions since Standard + Poor's
began covering project finance in the early 1990s. The hurricanes in 2004 did not trigger a
similar increase, and prices actually fell during the relevant period, after
soaring during the preceding year.

devastating hazard

Impact of Hurricane Katrina on Building Materials and Prices
The full extent of the impact of Hurricane Katrina on the overall economy
and on the housing market is still unclear, and the immediate focus is
properly on human life and health, but the number of homes destroyed by this
catastrophe is almost certain to dwarf the losses from any previous U.S.

From July 1992 to September 1992, largely as a consequence of Hurricane
Andrew, the average price for plywood increased from about $222 per 1,000
square feet to $321, and the price of Southern pine framing lumber rose from
$264 per 1,000 board feet to $308.8 percent of the state total in 1993 , the year following
Hurricane Andrew.

trigger overdue

United for Jobs and the American Council for Capital Formation
commissioned a study from CRA International, which found the McCain-Lieberman
legislation would have caused the loss of 1,306,000 jobs by 2020 and would
have cost households $810 annually once fully implemented.

eruption freeze

com.
The number of housing units destroyed (made uninhabitable and beyond
economically-justified repair) by Hurricane Andrew in 1992 was estimated at
over 28,000. The number of homes with major but reparable damage
was more than twice the number destroyed. This
is likely to be the fate of a large share of the more than 200,000 homes in
the city of New Orleans . Demand for other materials, such as concrete, is likely to
decline initially, as planned projects are cancelled or delayed during the
initial recovery period.C.

devastating lying

On the other hand, trees
that have been blown down will need to be harvested on an accelerated basis,
perhaps helping to lower wood product prices in the medium term.

overdue lying

For further information, please contact Paul Lopez at
(202 ) 266-8409 office or (202) 251-4672 cell.
The storm will have impacts on the supply of materials as well as demand. With production already running at
full capacity for wood panels, further increases for those products, as well
as for roofing, are likely.