Cement News tagged under: Standard & Poor's

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S&P upgrades GCC rating

06 June 2017, Published under Cement News

S&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable.   At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'.   Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu...

S&P: West China Cement stays on CreditWatch Positive

01 March 2016, Published under Cement News

Standard & Poor's (S&P) Ratings Services said that it continues to keep the ratings on West China Cement on CreditWatch with positive implications while the company awaits regulatory approval to: (1) issue new shares to Anhui Conch Cement Co, and (2) acquire the latter's cement assets. "We are still awaiting details of the transaction. We also need to further clarify with both management teams regarding WCC's capital management, growth strategy, board composition, and any change to WCC's e...

S&P raises Italcementi outlook to positive

09 October 2015, Published under Cement News

Standard & Poor's (S&P) has raised its outlook on Italcementi and its French subsidiary Ciments Francais to positive from stable. The BB/B ratings are affirmed. The outlook revision follows the completion of the rating's agency's review of HeidelbergCement's plans to purchase Italmobiliare's 45 per cent shareholding in Italcementi for approximately EUR1.67bn, announced in July 2015. S&P believes that the combined group's credit profile will likely be higher than that of Italcementi on a st...

Standard & Poor’s revises Italcementi rating

20 April 2015, Published under Cement News

Standard & Poor’s announced Friday that it has revised the corporate rating of Italcementi SpA, and as a consequence the rating of Italcementi Finance SA’s outstanding unsecured bonds, from BB+ with negative outlook to BB with stable outlook. The rating of Ciments Français SAS’ remaining outstanding bond is also revised to BB/stable. “We acknowledge Standard & Poor’s decision, even if it comes just ahead of what we believe is going to be a positive earnings cycle, driven by both the progr...

S&P affirms Buzzi rating, raises outlook

22 May 2014, Published under Cement News

Buzzi Unicem informs that today Standard & Poor’s affirmed the long-term corporate rating (BB+) and the short-term rating (B) on Buzzi Unicem, revising the outlook to stable from negative.

Titan long-term ratings lifted

10 December 2013, Published under Cement News

The long-term ratings on Greece-based cement producer Titan Cement have been lifted by ratings agency Standard & Poor's (S&P) to 'BB' from 'BB-'.  At the same time, it affirmed the 'B' short-term rating on Titan Cement. S&P has removed all the abovementioned ratings from CreditWatch, where Titan was placed with positive implications on 26 November, 2013. The outlook is stable. Titan Cement's stand-alone credit profile is 'bb', based upon S&P’s assessment of the group's business  risk ...

S&P confirms Buzzi, Dyckerhoff rating; negative outlook

09 October 2013, Published under Cement News

Buzzi Unicem said today that Standard & Poor’s confirmed the long-term corporate rating (BB+) on Buzzi Unicem and its German subsidiary Dyckerhoff AG and the short-term rating (B) on both groups, thus removing them from the credit watch with negative implications announced on 8 August 2013. The outlook was revised from stable to negative.

S&P lifts Cimpor outlook from stable to positive

05 September 2013, Published under Cement News

Standard & Poor’s has reaffirmed its ‘BB/B’ long and short term rating on Cimpor and InterCement, revising the outlook from stable to positive. The change follows the Outlook revision from stable to positive, keeping a ‘BB’ rating of Camargo Correa, which indirectly controls 94.2 per cent of Cimpor share capital. According to the rating’s agency, the outlook revision to positive based on the successful integration of InterCement and Cimpor assets and on the expectation that the new cement ...

S&P puts Buzzi Unicem, Dyckerhoff ratings on credit watch

09 August 2013, Published under Cement News

Standard & Poor's has placed Buzzi Unicem’s rating on credit watch with negative implications, the Italian cement major announced in a statement. Buzzi Unicem's corporate rating is currently at BB+/Stable/B. The rating for Dyckerhoff AG, Buzzi Unicem’s wholly-owned subsidiary, has also been placed on credit watch. S&P said the decision was due to first-half results which were lower than expected in some key market, particularly Italy, Mexico and Eastern Europe. For the first half ...

HeidelbergCement cancels S&P ratings agreement

26 November 2012, Published under Cement News

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 tran...