S&P: Lafarge view to positive

Standard & Poor's said it revised its outlook on Lafarge SA to positive from stable.

At the same time, the agency affirmed its BB+/B long- and short-term corporate credit ratings on the company.

It also affirmed the BB+ senior unsecured debt ratings on the company. The recovery ratings on this debt are unchanged at 3, indicating an expectation of meaningful (50%-70%) recovery in the event of a payment default.

S&P said the outlook revision and ratings affirmation follow the April 7 announcement by Lafarge and Holcim Ltd. of their intention to merge their operations.

Holcim indicated it will launch a public exchange offer for all outstanding Lafarge shares with new Holcim shares. The companies expect the process to be finalized in the first half of 2015.

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