Fitch affirms Holcim

Fitch Ratings said it affirmed Holcim Ltd.'s long-term issuer default and senior unsecured ratings at BBB+ and short-term issuer default rating at F2, along with subsidiary Aggregate Industries plc's senior unsecured BBB+ rating.

The outlook is stable.

This action follows news that Holcim will acquire an additional stake in India-based cement manufacturer Ambuja Cements Ltd.

The ratings continue to reflect Holcim's strong market positions in its cement, aggregates and concrete and complementary product portfolio, Fitch said. They also consider its superior geographical diversification and high penetration in emerging markets, the agency added.

In addition, the ratings take into account its strong cash flow generation and above-sector average operating EBITDAR margins, the agency said.

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