S&P lifts Dyckerhoff outlook to positive

Standard & Poor's said it revised its outlook on Dyckerhoff AG to positive from stable, reflecting further improvements in the group's performance in the first half of 2006.

At the same time, the BB+ long-term and B short-term corporate credit ratings and the ratings on all outstanding debt of Dyckerhoff and its related entities were affirmed, the agency said.

S&P noted that the ratings on Dyckerhoff reflect the group's moderately aggressive financial structure and satisfactory business profile, stemming from its substantial exposure to the structurally difficult German market, as well as its limited geographic diversity.

These factors are somewhat mitigated by the company's good market positions and healthy margins achieved outside Germany, its positive free cash flow generation overall and the expectation that its financial profile will steadily improve, the agency added.

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