HeidelbergCement upgraded to ‘BB’ by Standard&Poor’s
Standard&Poor’s Rating Services raised HeidelbergCement’s long-term corporate credit rating and the issue ratings on the company’s senior unsecured bonds to ‘BB’ from ‘BB-‘.
As rationale, Standard&Poor’s highlighted the consistent allocation of cash flow to deleveraging and the prudent spending on acquisitions and shareholder remuneration.
The positive outlook reflects the view that HeidelbergCement’s credit measures will continue to strengthen based on a combination of cost savings and stabilization in the company’s mature markets.
Published under Cement News
