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06.05.2024
Creditreform Rating has affirmed the unsolicited corporate issuer ratings of Holcim Ltd and Holcim Finance (Luxembourg) S.A. at A-. Creditreform Rating has also affirmed the unsolicited corporate issue ratings of the long-term local currency senior unsecured notes issued by Holcim Finance (Luxembourg) S.A. at A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings remains stable. The initial unsolicited short-term rating of Holcim Ltd and Holcim Finance (Luxembourg) S.A. has been set to L2. For more details regarding the ratings, please refer to our rating update below.
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10.05.2023
Creditreform Rating has upgraded the unsolicited corporate issuer rating of Holcim Ltd as well as the unsolicited corporate issuer rating of Holcim Finance (Luxembourg) S.A. from BBB+ to A-. Creditreform Rating has also upgraded the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Holcim Finance (Luxembourg) S.A. from BBB+ to A-. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings has changed from positive to stable. For more details regarding the ratings, please refer to our rating update report below.
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06.12.2022
Creditreform Rating has affirmed the unsolicited corporate issuer rating of Holcim Ltd as well as the unsolicited corporate issuer rating of Holcim Finance (Luxembourg) S.A. at BBB+. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by Holcim Finance (Luxembourg) S.A. at BBB+. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings changed to positive from stable. For more details regarding the ratings, please refer to our rating report below.
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11.11.2021
Creditreform Rating has confirmed the unsolicited corporate issuer rating of Holcim Ltd at BBB+ in the context of an annual update. The outlook remains stable. In addition to the company's leading global market position in the cement and building materials industry and its geographical diversification, the main reason for confirming the rating result was the resilient operating and financial performance in 2020 despite the negative effect of the COVID-19 pandemic and the subsequent strong business development in 2021 year-to-date, a trend that will likely continue given the overall positive fundamentals for the industry. The acquisition of Firestone Building Products Company, LLC had a dampening effect, leading to a noticeable increase in net financial debt in the current fiscal year. We expect the company to confirm or even improve its solid quantitative and qualitative fundamentals despite remaining pandemic-related uncertainties, tightening climate change targets and current cost inflation in energy and commodity markets.
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17.12.2020
Creditreform Rating has confirmed the unsolicited corporate issuer rating of LafargeHolcim Ltd. at BBB+ in the context of an annual update. The outlook remains stable. Main reasons for the rating result continue to be the Company´s worldwide leading market position in the cement and building materials industry, its geographical diversification, positive (organic) business development in 2019 resulting in an improvement in the outcome of the financial key figures analysis, as well as its sufficient earnings and internal financing power. In the current 2020 financial year, LafargeHolcim reports a significant decline in sales and earnings against the background of the social and macroeconomic upheavals in the wake of the COVID-19 pandemic. Despite operational improvements in the third quarter of 2020, setbacks and negative effects on assets, finances and earnings cannot be ruled out against the background of the COVID-19 pandemic, which continues to develop dynamically. This is currently offset by the company's solid quantitative and qualitative fundamentals showing sufficient financial stability, at least in the short term, which is why the rating and outlook could be confirmed.
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20.05.2019
Creditreform Rating has carried out an unsolicited rating of Lafarge Holcim Ltd. The rating has been set to BBB+ with stable outlook.