Fitch puts Lafarge on watch

Fitch Ratings said it placed Lafarge SA's long-term issuer default and senior unsecured ratings of BBB on Rating Watch negative and downgraded its short-term rating to F3 from F2.

The watch reflects concern that weak trading conditions in mature markets will likely persist and possibly deteriorate into 2009, according to the agency.

Ratings reflect the company's solid position in the international building materials industry, notably its leading global position in both the high-margin cement sector and its complementary product portfolio, the agency said.

The group's position is supported by its geographical diversification and established presence in mature markets, and increased exposure to fast-growing emerging markets, the agency noted.

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