S&P rates Holcim Finance securities BB+

S&P said it assigned a BB+ long-term issue rating to the proposed new subordinated securities to be issued by Holcim Finance (Luxembourg) SA, a 100% owned and controlled finance subsidiary of LafargeHolcim Ltd., which will guarantee the proposed notes.

The proceeds will be used to redeem existing debt in order to improve the group's debt maturity profile and leverage ratios, S&P said.

Following this issuance, LafargeHolcim will exhibit a ratio of outstanding hybrids-to-adjusted capitalization well below 15% limit to be viewed as having intermediate equity content, the agency explained.

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