Cement News tagged under: Moody's
Moody's raises LafargeHolcim outlook to "stable"12 August 2015, Published under Cement NewsRatings agency Moody's Monday raised the outlook on the long-term and short-term credit ratings of the merged cement group LafargeHolcim to "stable" from previously "negative". The long-term Baa2 rating and the short-term Prime-2 rating were affirmed. Moody's said the ratings action was prompted by the successful completion of the merger process and the EUR6.5bn the merged company received from the sale of assets to CRH. The "stable" outlook reflects the agency's expectations that La... |
Moody's assigns first-time A3 rating to Anhui Conch Cement12 August 2015, Published under Cement NewsMoody's Investors Service has assigned a first-time A3 issuer rating to Anhui Conch Cement Company Ltd. The rating outlook is stable. "Conch's A3 rating reflects its leadership in the domestic cement industry, as demonstrated by its large production capacity and distribution networks, its strong earnings and ample cash flows, as well as sustained low debt leverage and disciplined capital spending throughout the industry cycle," said Franco Leung, a Moody's VicePresident and Senior Analyst. |
Moody's: WCC's weakened 2014 results to have no impact on ratings20 March 2015, Published under Cement NewsMoody's Investors Service says that West China Cement Ltd's (WCC) weakened 2014 results are in line with the rating agency's expectations and will have no immediate impact on the company's B1 corporate family and senior unsecured ratings, or its stable rating outlook. "WCC's weakened profitability resulted in an increase in its financial leverage in 2014. However, we expect its financial leverage to slightly improve over the next 12-18 months owing to lower capital expenditure, says Jiming... |
Moody's says WCC's profit warning is credit negative03 November 2014, Published under Cement NewsMoody's Investors Service says West China Cement Ltd's (WCC) profit warning for 2014 is credit negative. On 29 October 2014, WCC announced that its consolidated net profit for 2014 will fall substantially from 2013, based on preliminary results for the first nine months ended 30 September 2014. "Moody's expects WCC to demonstrate a lower EBITDA margin which will in turn increase its debt/EBITDA ratio, and will therefore continue to position the company weakly within the B1 rating level,... |
Moody's: WCC results in line with expectations21 August 2014, Published under Cement NewsMoody's Investors Service says that West China Cement Ltd's (WCC) first-half results are in line with Moody's expectations. As a result, WCC's B1 corporate family and senior unsecured ratings remain unchanged. "WCC improved its profitability and financial leverage in 1H 2014, despite a moderation in revenue growth, due to slowing cement demand," says Jiming Zou, a Moody's Assistant Vice President and Analyst. During 1H 2014, WCC achieved a 1.5 per cent YoY growth in sales, which was do... |
Moody's upgrades Italcementi outlook01 August 2014, Published under Cement NewsMoody's has confirmed Italcementi's Ba3 rating and upgraded the company's outlook from 'stable' to 'positive' following the successful conclusion of the Italian cement major's 'i.150' project. The same rating is affirmed for Italcementi's Euro Medium Term Note Programme (EMTN) programme and for its subsidiary Italcementi Finance. Following the recent transaction which led Italcementi to control the total share capital of Ciments Français and the related delisting of the company, Moody’s ... |
Moody's assigns a Baa3 rating to Votorantim Cimentos proposed notes due 2021; outlook stable17 April 2014, Published under Cement NewsMoody's Investors Service has assigned a Baa3 rating to the proposed up to EUR750m seven-year senior unsecured notes to be issued by Votorantim Cimentos SA. The outlook for the ratings is stable. “Votorantim Cimentos' Baa3 ratings reflect primarily the company's leading position in the Brazilian cement market, strong credit metrics, adequate liquidity, as well as its large scale and integrated operations, that translates in leading market share and above-average EBITDA margins when compare... |
Moody's places Lafarge's ratings on review for upgrade, changes outlook on Holcim Baa2 rating08 April 2014, Published under Cement NewsMoody's has put Lafarge's Ba1 rating on review for a possible upgrade following the announced merger proposal with Swiss peer Holcim. At the same time, the credit rating's agency has changed its view on Holcim's Baa2 rating to negative from stable. The ratings actions reflect the fact that Holcim has a stronger balance sheet and credit rating than Lafarge. "The merger of Holcim and Lafarge will create the largest and geographically most diversified cement producer worldwide," said Moody's ... |
West China Cement ratings upgrade25 March 2014, Published under Cement NewsMoody's Investors Service has changed the outlook of the B1 corporate family rating and B1 senior unsecured bond ratings of West China Cement from negative to stable. At the same time, the research house has affirmed both ratings. "The change in outlook to stable reflects an improvement in WCC's debt leverage and a slowdown in its capital expenditure," said Jiming Zou, a Moody's Assistant Vice President and Analyst. In addition, Moody's pointed out that the acquisitions made by WCC in ... |
HeidelbergCement upgrade28 February 2014, Published under Cement NewsMoody's Investors Service has upgraded the provisional (P)Ba2 MTN ratings and the Ba2/(P)Ba2 ratings on the notes outstanding to (P)Ba1 and Ba1, respectively of HeidelbergCement AG and its subsidiaries. The Ba1 coporate family rating (CFR) and the stable outlook remain unchanged. The upgrade of HeidelbergCement's MTN and bond ratings follows the signing of a new five year EUR3bn revolving credit facility that removes all securities and upstream guarantees contained in the previous facility... |