© Reuters. HeidelbergCement: Moody’s raises its outlook
Moody’s indicated that it had raised its outlook on HeidelbergCement (DE:HEIG) from ‘stable’ to ‘positive’, the rating agency citing the commitment shown by the German group of construction materials to reduce its debt.
On the occasion of an investor day, the cement has committed to reduce its net debt of 1.5 billion euros in three years, to reduce it to seven billion. Moody’s points in addition to a position of solid liquidity, with approximately 1.6 billion euros.
‘HeidelbergCement has painted a positive picture of the future development of its markets for the next 12 to 18 months’, also says Stanislas Duquesnoy, a senior credit officer at the u.s. agency.
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