Moody’s: LafargeHolcim view to stable

Moody's Investors Service said it affirmed the Baa2 long-term and Prime-2 short-term ratings as well as the provisional Baa2 senior unsecured and provisional P-2 short-term euro medium-term note program ratings of LafargeHolcim Ltd. (formerly Holcim Ltd.) and its rated subsidiaries.

The outlook was changed to stable from negative.

"The outlook change to stable from negative on LafargeHolcim's Baa2 ratings follows the successful completion of the merger between Lafarge and Holcim with LafargeHolcim owning 96.4% of Lafarge and the receipt of €6.5 billion enterprise value from asset disposals to CRH that will be mainly applied to debt reduction of the new group,” Falk Frey, Moody’s senior vice president and lead analyst for LafargeHolcim, said in a news release.

"The stable outlook also anticipates a timely and effective achievement of the envisaged run-rate synergies of CHF 1.5 billion after three years."

© 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.