Fitch affirms Heidelberg Cement

Fitch Ratings said it affirmed HeidelbergCement AG's long-term issuer default rating and senior unsecured ratings at BBB-, and short-term issuer default rating at F3. Fitch also said it affirmed Hanson plc's senior unsecured rating at BBB-.

The outlook remains negative.

The ratings reflect the company's leading market positions in cement and aggregates, which are essential for establishing solid market presence in downstream activities such as ready-mixed concrete and concrete products, Fitch said.

The negative outlook continues to reflect concerns about delays in planned de-leveraging, the agency said, and the challenges the group faces in achieving credit metrics that are commensurate with an investment-grade profile.

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