Moody's raises LafargeHolcim outlook to "stable"

Ratings 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 LafargeHolcim will achieve the targeted run-rate synergies of CHF1.5bn (EUR1.38bn) after three years.