Fitch affirms HeidelbergCement

Fitch Ratings said it has affirmed HeidelbergCement AG's long-term issuer default rating at B and removed the rating from rating watch negative.

A negative outlook has been assigned.

Fitch said that this follows HeidelbergCement's announcement that it has completed the refinancing of its bank debt on a secured basis.

Simultaneously, the agency said it has downgraded HeidelbergCement's and Hanson plc's senior unsecured debt to CCC from B and removed the ratings from negative watch.

Fitch noted that it has also affirmed the company's short-term issuer default rating at B and removed it from watch.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.