Cement News tagged under: Moody's

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China's cement production level to hold steady through to 2020

29 April 2019, Published under Cement News

China's cement output has fallen from a peak in 2014 but will hold steady through 2020, according to a report from global ratings agency Moody’s. The lower production volume reflects the closer of inefficient capacity and winter production, where the government reportedly seeks to reduce emissions. "The lower production volume and steady demand support the price of cement," said Roy Zhang, assistant vice president and analyst. "Such prices will help sustain producer margins." Prices are ...

Moody's assigns first-time Ba3 and Aaa.ng ratings to Dangote Cement

06 July 2017, Published under Cement News

Moody’s has assigned a first-time Ba3 Local Currency Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating and Aaa.ng National Scale Rating (NSR) to Dangote Cement Plc (DCP). The outlook on the ratings is stable. "Dangote Cement Plc’s Ba3 local currency corporate family rating, one-notch above the Government of Nigeria’s own rating, reflects the company’s strong standalone credit profile and track record of demonstrated financial support from a larger and more diversified par...

Moody's upgrades Eagle to Investment Grade

28 June 2017, Published under Cement News

Moody's Investors Service upgraded the senior unsecured debt ratings of US-based Eagle Materials Inc to Baa3 from Ba1. The rating outlook is stable. The upgrade reflects Moody's view that Eagle Materials has the willingness and ability to defend its investment grade rating in a downturn. The upgrade is also supported by strength in the company's financial ratios, "which are among the best in the building materials rated universe," Moody's notes. Eagle Material's adjusted debt-to-EBITDA...

Moody affirms LafargeHolcim's rating at Baa2

29 April 2016, Published under Cement News

Financial analysts Moody has today affirmed the Baa2 long-term and Prime-2 short-term ratings for LafargeHolcim Ltd (LH) and its rated subsidiaries and changed the outlook to "negative" from "stable". "The outlook change to negative from stable on LafargeHolcim's Baa2 ratings follows weaker than expected operating performance during 2015, a challenging outlook for several of the group's major markets and execution risks related to the timing of its ambitious disposal programme," says Falk...

Moody's upgrades Boral's long-term rating to Baa2; outlook stable

06 November 2015, Published under Cement News

Moody's Investors Service has upgraded Boral Limited's issuer rating and senior unsecured rating to Baa2 from Baa3. The outlook on this rating changed to stable from positive. At the same time, Moody's has upgraded the commercial paper of Boral Limited, Boral Industries, Inc., Boral International Holdings, Inc. to P-2 from P-3 and upgraded the other short term rating of Boral Ltd to P-2 from P-3. Moody's also upgraded the senior unsecured MTN rating of Boral Limited to (P)Baa2 from (P)Baa3...

Moody's: Conch Cement's 1H15 results are in line with its A3 rating

01 September 2015, Published under Cement News

Moody's Investors Service, (Moody's) says that Anhui Conch Cement Co Ltd's 1H15 results are in line with its A3 issuer rating and stable outlook. "Conch's strengthened market position and maintenance of low debt leverage in 1H15 continue to support its A3 rating, despite the pressures from industry overcapacity and the slowdown in infrastructure and property developments," said Franco Leung, a Moody's Vice President and Senior Analyst. Conch's revenue declined 15.8 per cent to CNY24.2bn ...

Moody's upgrades West China Cement to Ba3; stable outlook

25 August 2015, Published under Cement News

Moody's Investors Service has upgraded West China Cement Limited's (WCC) corporate family and senior unsecured ratings to Ba3 from B1. "The upgrade reflects the improvement in WCC's financial profile following the investment by Anhui Conch Cement Company Limited (A3 stable) in the company," says Franco Leung, a Moody's Vice President and Senior Analyst. At the end of June 2015, Conch had completed a subscription to shares equivalent to a 16.67 per cent equity stake in WCC. As a result, WCC...

Moody's raises LafargeHolcim outlook to "stable"

12 August 2015, Published under Cement News

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 La...

Moody's assigns first-time A3 rating to Anhui Conch Cement

12 August 2015, Published under Cement News

Moody's Investors Service has assigned a first-time A3 issuer rating to Anhui Conch Cement Company Ltd. The rating outlook is stable. "Conch's A3 rating reflects its leadership in the domestic cement industry, as demonstrated by its large production capacity and distribution networks, its strong earnings and ample cash flows, as well as sustained low debt leverage and disciplined capital spending throughout the industry cycle," said Franco Leung, a Moody's VicePresident and Senior Analyst.

Moody's: WCC's weakened 2014 results to have no impact on ratings

20 March 2015, Published under Cement News

Moody's Investors Service says that West China Cement Ltd's (WCC) weakened 2014 results are in line with the rating agency's expectations and will have no immediate impact on the company's B1 corporate family and senior unsecured ratings, or its stable rating outlook. "WCC's weakened profitability resulted in an increase in its financial leverage in 2014. However, we expect its financial leverage to slightly improve over the next 12-18 months owing to lower capital expenditure, says Jiming...