HeidelbergCement cancels S&P rating agreement

HeidelbergCement has cancelled its long-standing rating agreement with the rating agency Standard & Poor’s (S&P). The rating agreements with the internationally-recognised rating agencies FitchRatings and Moody's will continue unchanged. “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 transactions at attractive terms,” says the company. HeidelbergCement is rated as an issue
November 23, 2012 Read time: 1 min

RSSHeidelberg Cement has cancelled its long-standing rating agreement with the rating agency Standard & Poor’s (S&P).

The rating agreements with the internationally-recognised rating agencies FitchRatings and 4446 Moody's will continue unchanged.

“Thanks to its outstanding reputation at the credit markets and the ratings from Moody’s and 4449 Fitch, HeidelbergCement retains a strong capability to successfully execute capital market transactions at attractive terms,” says the company.

HeidelbergCement is rated as an issuer by Moody’s Investor Service and Fitch Ratings. The issuer/corporate rating is Ba1 stable respectively BB+ stable.

For more information on companies in this article

Related Content

March 28, 2012

Heidelberg rating upgraded

Strong first quarter results has led to Moody’s upgrading its investment rating of Heidelberg Cement. The company has now been raised to a Ba1 rating and the unsecured long term rating has been increased from Ba3 to Ba2. “We are very happy that the solid performance in Q1 has prompted another rating upgrade,” said Heidelberg CEO Dr Bernd Scheifele. “As a result, two rating agencies see us only one notch away from our targeted investment grade rating.”

March 16, 2017

HeidelbergCement accelerates growth with Italcementi takeover

HeidelbergCement’s revenue rose by 13% to €15.16 billion in the 2016 financial year – with its acquisition of Italcementi the key driver of growth.

The German building materials giant says its integration of Italy-based Italcementi is ahead of schedule, with synergies from the acquisition increased to €470 million.

HeidelbergCement’s consolidated financial statement for 2016 also revealed that cash flow from operations also rose by 29% to €1.9 billion in 2016. The company is proposing a dividend to sh

boombox1

Highlighted Content

boombox2