Fitch: Holcim unchanged

Fitch Ratings said it said that the announcement by Holcim Ltd. that it will acquire assets in Australia and participate in a share capital increase in an investment in China will have no impact on the group's ratings.

Holcim has stated that both measures will be fully funded with a CHF 2 billion rights issue, the agency said, adding that Holcim's ratings are as follows: long-term issuer default rating at BBB; outlook negative; senior unsecured rating at BBB and short-term issuer default rating at F2.

Fitch noted that Holcim announced the following transactions: a) the acquisition of 100% of Cemex Australia from Cemex, SAB de CV (issuer default rating B/national long-term rating BB-(mex)/rating watch negative), including a 25% stake in Cement Australia, in which Holcim already owns 50% and b) the participation in the capital increase of Huaxin Cement Co. Ltd. in which Holcim holds 39.9% stake.

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