Cement News tagged under: Ratings
Moody's upgrades Boral's long-term rating to Baa2; outlook stable06 November 2015, Published under Cement NewsMoody's Investors Service has upgraded Boral Limited's issuer rating and senior unsecured rating to Baa2 from Baa3. The outlook on this rating changed to stable from positive. At the same time, Moody's has upgraded the commercial paper of Boral Limited, Boral Industries, Inc., Boral International Holdings, Inc. to P-2 from P-3 and upgraded the other short term rating of Boral Ltd to P-2 from P-3. Moody's also upgraded the senior unsecured MTN rating of Boral Limited to (P)Baa2 from (P)Baa3... |
S&P raises Italcementi outlook to positive09 October 2015, Published under Cement NewsStandard & Poor's (S&P) has raised its outlook on Italcementi and its French subsidiary Ciments Francais to positive from stable. The BB/B ratings are affirmed. The outlook revision follows the completion of the rating's agency's review of HeidelbergCement's plans to purchase Italmobiliare's 45 per cent shareholding in Italcementi for approximately EUR1.67bn, announced in July 2015. S&P believes that the combined group's credit profile will likely be higher than that of Italcementi on a st... |
Fitch Downgrades Shanshui to 'B-'; Outlook Negative02 September 2015, Published under Cement NewsFitch Ratings has downgraded China Shanshui Cement Group Ltd's (Shanshui) Long-Term Issuer Default Rating (IDR) and senior unsecured ratings to 'B-' from 'B+'. The agency has also removed the company from Rating Watch Negative and assigned it a Negative Outlook. The Recovery Rating on the senior unsecured ratings remains at 'RR4'. The rating downgrade reflects the continued weak business environment and Shanshui's reliance on short-term financing, which could pressure liquidity. The Negativ... |
Moody's: Conch Cement's 1H15 results are in line with its A3 rating01 September 2015, Published under Cement NewsMoody's Investors Service, (Moody's) says that Anhui Conch Cement Co Ltd's 1H15 results are in line with its A3 issuer rating and stable outlook. "Conch's strengthened market position and maintenance of low debt leverage in 1H15 continue to support its A3 rating, despite the pressures from industry overcapacity and the slowdown in infrastructure and property developments," said Franco Leung, a Moody's Vice President and Senior Analyst. Conch's revenue declined 15.8 per cent to CNY24.2bn ... |
S&P upgrades TCL, removes from CreditWatch20 August 2015, Published under Cement NewsStandard & Poor's (S&P) Ratings Services raised its corporate credit rating on Trinidad Cement Ltd Group (TCL) to 'B-' from 'CCC', and removed it from CreditWatch with positive implications. The outlook is stable. At the same time, it has assigned its 'B-' issue-level rating to the company's US$200m senior secured term loan. The rating action reflects TCL's successful debt refinancing, which took place on 6 August 2015, S&P said in a statement. The refinancing improves the company's debt ... |
Moody's raises LafargeHolcim outlook to "stable"12 August 2015, Published under Cement NewsRatings agency Moody's Monday raised the outlook on the long-term and short-term credit ratings of the merged cement group LafargeHolcim to "stable" from previously "negative". The long-term Baa2 rating and the short-term Prime-2 rating were affirmed. Moody's said the ratings action was prompted by the successful completion of the merger process and the EUR6.5bn the merged company received from the sale of assets to CRH. The "stable" outlook reflects the agency's expectations that La... |
Moody's assigns first-time A3 rating to Anhui Conch Cement12 August 2015, Published under Cement NewsMoody's Investors Service has assigned a first-time A3 issuer rating to Anhui Conch Cement Company Ltd. The rating outlook is stable. "Conch's A3 rating reflects its leadership in the domestic cement industry, as demonstrated by its large production capacity and distribution networks, its strong earnings and ample cash flows, as well as sustained low debt leverage and disciplined capital spending throughout the industry cycle," said Franco Leung, a Moody's VicePresident and Senior Analyst. |
HeidelbergCement BB+ confirmed on Italcementi deal - Fitch06 August 2015, Published under Cement NewsUS ratings agency Fitch has confirmed the 'BB+' rating on German cement maker HeidelbergCement (HC), with outlook stable, following the company's announced purchase of Italian peer Italcementi. HeidelbergCement intends to finance the EUR4.3bn eal (including Moroccan minorities) with EUR800m in shares sold to the seller, EUR1bn in disposals, EUR800m in capex and working capital savings and the remaining EUR1.7bn through a combination of operational cash flow and additional debt. "The affirm... |
S&P downgrades PPC on increasing debt07 July 2015, Published under Cement NewsStandard & Poor's Ratings Services (S&P) has lowered its long-term South Africa national scale rating on heavy building materials producer PPC Ltd to 'zaA' from 'zaA+'. At the same time, it affirmed the 'zaA-2' short-term South Africa national scale rating on PPC. S&P said it expects PPC’s net financial debt to increase materially over the near-term due to its increased capital expenditure on expansiory projects in the Sub Saharan region. The company’s strategy is to grow its Sub-saharan ac... |
Fitch withdraws Societe des Ciments d'Enfidha ratings, Tunisia24 June 2015, Published under Cement NewsFitch Ratings has affirmed Tunisian building materials group Societe des Ciments d'Enfidha (SCE) National Long-term rating of 'BBB(tun)' with Stable Outlook and National Short-term rating of 'F3(tun)'. However, Fitch simultaneously withdrew the ratings because it no longer has sufficient information to maintain them. Accordingly, Fitch will no longer provide ratings or analytical coverage for SCE. Key ratings drivers Leading market position Fitch notes that SCE demonstrated a capaci... |