S&P reduces outlook on HeidelbergCement to "stable"

S&P reduces outlook on HeidelbergCement to "stable"
Published: 08 November 2011

Standard & Poor’s (S&P) announced today it had decreased the outlook for German cement producer HeidelbergCement to "stable" from "positive".

S&P kept the BB long-term and B short-term credit rating on the company.

HeidelbergCement will use its cash flow from the next 12 months to repay existing debts. The debt relief, however, runs slower than expected, the rating agency reported.