S&P ups HeidelbergCement view to positive

Standard & Poor's said it revised its outlook on HeidelbergCement AG to positive from stable, reflecting improvements in the group's credit position to date and further expected improvements over the next 18 months.

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

S&P said the ratings on HeidelbergCement reflect the group's moderately aggressive financial structure and the cement industry's cyclicality and heavy capital intensiveness. These factors are offset by HeidelbergCement's large size, broad geographical diversity, strong market positions, and sustained ability to generate healthy funds from operations.

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