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S&P assigns Cementir Holding a BBB- rating with Outlook Stable

Published by , Deputy Editor
World Cement,

Standard & Poor's rating agency has announced that it had assigned Cementir Holding N.V. an Issuer Rating of ‘BBB- with Stable Outlook.’

The attribution of an Investment Grade rating is the culmination of a process that began several years ago, which saw Cementir significantly diversify its business and product portfolio, allowing it to achieve considerable stability in results, even during the recent pandemic crisis.

In fact, during 2020, Cementir Holding improved its profitability and further reduced its financial leverage. Over the next few months, the management expects to further strengthen the competitive position, thanks to cash generation and the major investments in sustainability and digitalisation envisaged in the 2021 – 23 Business Plan.

The ‘Stable outlook’ reflects the Group's cash generation and managerial ability to maintain a prudent financial policy.

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European cement news