Following yesterday’s report on Italcementi’s 1H14 results, which the group says are in line with its programs, today the international cement company announces that the rating agency Moody’s has changed the group’s outlook to ‘positive’ from stable.
In a statement, Italcementi wrote:
‘Italcementi informs that, after the positive conclusion on the ‘i.150’ project, the rating agency Moody’s, after last March announcement of review, confirmed the ‘Ba3’ corporate family rating, while the outlook is changed to ‘positive’ from ‘stable’. The same rating is affirmed for the EMTN programme and for the subsidiary Italcementi Finance. Following the recent transaction which led Italcementi to control the total share capital of Ciments Français and the related delisting of the company, Moody’s announced the withdrawal of the corporate family rating on the company and confirmed the Ba2 rating on Ciments Français notes due in 2017.’
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/01082014/italcementi-outlook-upgraded-to-positive-219/