Fitch ups CRH short-term to F2, view stable

Fitch Ratings said it revised the outlook on CRH plc's long-term issuer default rating to stable from negative and upgraded its short-term rating to F2 from F3.

The agency also affirmed CRH's long-term issuer default rating and senior unsecured ratings at BBB.

Fitch said the outlook revision and affirmation reflect its expectation that CRH's financial performance will meet the agency’s guidance for the ratings within the next 12 to 18 months, driven by CRH's strong operating performance and successful integration of its large acquisitions in 2015.

Fitch expects the recovery in core North American and European countries in 2016 to benefit the group. Its growth exceeded that of its peers in 2014 and 2015.

© 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.