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Fitch rates HeidelbergCement eurobond BB+
Fitch Ratings said it assigned a senior unsecured rating of BB+ to HeidelbergCement AG.
The rating applies to the company’s 2¼% €1 billion eurobond due 2023, which is guaranteed by Hanson Ltd. and launched as part of the company’s €10 billion euro medium-term note program.
The bond is rated at the same level as the company’s issuer default rating of BB+ as it represents direct, unconditional and unsecured obligations of the company.
The rating is sensitive to the same factors that affect the company’s issuer default rating, Fitch said.
The company also has a short-term issuer default rating of B. HeidelbergCement Finance BV has a senior unsecured rating of BB+. HeidelbergCement Finance Luxembourg SA has a senior unsecured rating of BB+ and Hanson has a senior unsecured rating of BB+.
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