Two ratings firms improve gradings for HeidelbergCement

S&P Global Ratings and Moody's have upped their investment ratings for HeidelergCement following the company's 3Q16 results and the Italcementi acquisition.

S&P Global Ratings has assigned a BBB-/A-3 company rating to HeidelbergCement. S&P also upgraded the issuance ratings of Italcementi from BB/B to BBB-/A-3. The outlook on all ratings is stable.

“We are very happy about the positive rating decision by S&P,” said Dr Bernd Scheifele, CEO of HeidelbergCement. “It is proof of the strong operating business of HeidelbergCement and the continuous improvement of our capital structure and cashflow in the last years. With the classification in the Investment Grade, we have achieved one of our core strategic targets. As a consequence, we are very well positioned to significantly enlarge our investor base and improve our financing conditions.”

Meanwhile, Moody’s has assigned a Baa3 company rating to HeidelbergCement. The classification in the Investment Grade is associated in particular with the strong business profile after the Italcementi acquisition and an improved creditworthyness.

“We welcome the positive rating decision by Moody’s,” said Dr Bernd Scheifele, CEO of HeidelbergCement. “It is another proof of the strong operating performance and cash flow generation so far this year. We will leverage the improved rating to significantly enlarge our investor base and improve our financing conditions.”