Fitch Ratings has affirmed it AAA(cri) rating with a stable outlook for Holcim (Costa Rica) and its subsidiaries, according to a report from the ratings agency.
The rating is attributed to Holcim 's strong market position in Costa Rica where it operates a 1.5Mta integrated cement plant, and strong generation of cash flow. Cemex is the only other cement producer in Costa Rica, with two plants and a 0.9Mta capacity.
As of June 30, Holcim (Costa Rica) generated an EBITDA of CRC27.3bn (US$54.8m), compared to a downward trend during 2011 and 2012.
The company also benefits from strategic and technical support from its majority shareholder Holcim Investments Spain, a wholly owned subsidiary of Holcim, Ltd.
The company's low leverage and favorable EBITDA margin also contribute to the rating, according to the report.
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