Moody’s: HeidelbergCement to positive

Moody's Investors Service said it affirmed HeidelbergCement AG’s and its subsidiaries’ provisional Ba1/provisional NP medium-term note program ratings and the Ba1/provisional Ba1 ratings on the senior unsecured notes.

Concurrently, the agency affirmed the Ba1 corporate family rating and the Ba1-PD probability of default rating.

The outlook was changed to positive from stable.

"The change in the outlook of HC's ratings to positive is driven by our expectation that HC will improve its performance in 2015 on the back of expected positive economic developments in its major markets U.S.; U.K., Germany and Indonesia coupled with a continued reduction in its overall indebtedness" Falk Frey, Moody's senior vice president and lead analyst for HeidelbergCement.

"These factors should lead to leverage ratios for the full year 2015 to be in line with our triggers set for an upgrade to Baa3."

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