HeidelbergCement cancels S&P ratings agreement

HeidelbergCement has cancelled its long-standing rating agreement with the rating agency Standard & Poor's (S&P).

Its agreements with FitchRatings and Moody's will continue unchanged. HeidelbergCement's issuer/corporate rating is Ba1 stable by Moody's Investor Service and BB+ stable by Fitch Ratings.

"Thanks to its outstanding reputation at the credit markets and the ratings from Moody’s
and Fitch, HeidelbergCement retains a strong capability to successfully execute capital
market transactions at attractive terms," said the cement producer in a statement.