HeidelbergCement: Moody's upgrades outlook to positive

(CercleFinance.com) - Moody's has upgraded its outlook for HeidelbergCement from stable to positive, citing the German cement maker's deleveraging process, the ratings agency on Thursday.


At its investor day, HeidelbergCement committed itself to reducing net debt by around 1.5 billion euros to 7 billion euros over the next three years, Moody's said in a statement.

"HeidelbergCement has painted a positive picture of the future development of its markets, a view we share for the next 12 to 18 months," said Stanislas Duquesnoy, senior credit officer at Moody's.

The agency adds that the group's liquidity position is solid, with approximately 1.6 billion euros in cash and marketable securities.


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