Fitch affirms Lafarge IDR at BB+
Fitch has affirmed the Long-term Issuer Default Rating (IDR) and the senior unsecured rating of Lafarge at BB+ with a "stable" outlook.
The affirmations reflect Fitch's view that the group will continue to reduce debt and improve its credit metrics in 2012, the agency said in a statement today.
Fitch expects Lafarge's leverage ratio to fall below 4.0x by the end of 2012, a level that would be in line with the current rating.
However, Fitch forecasts part of the envisaged EUR500m savings in the next two years to be offset by cost inflation, particularly on energy.