S&P affirms InterCement and Cimpor

Standard & Poor's said it affirmed its BB ratings on InterCement Brasil SA and its recently acquired Cimpor Cimentos de Portugal, SGPS SA and removed the ratings from CreditWatch with negative implications.

The agency said it placed the ratings on CreditWatch on April 2 after InterCement announced a public offer to acquire the remaining 67% of Cimpor's shares on Portugal's stock exchange.

The outlook is stable.

The agency said the rating action follows InterCement's successful takeover of Cimpor from the majority of existing shareholders.

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