HeidelbergCement AG http://www.alacrastore.com/company-snapshot/HeidelbergCement_AG-1019181 Sunday, October 12, 2008 4:58:55 AM 1019181 HeidelbergCement AG en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/674196spcred/674196normThe latest News from S&Pglobal9/30/2008 1:00:13 PM100News674196GermanyConstruction MaterialsEurope, Middle East, AfricaGlobal IssuersCorporationsBuilding MaterialsNewsPARIS (Standard&Poor's) Sept. 30, 2008--Standard&Poor's Ratings Services said today that it revised its outlook on Germany-based cement producer HeidelbergCement AG (HC) to negative from stable. At the same time, the 'BBB-/A-3' long- and short-term corporate credit and all issue ratings were affirmed. "The outlook revision reflects fresh concerns about covenant headroom; heavy refinancing needs, which will need to be addressed by mid-2010; our reassessment of the group's future prospects in light of its half-year results published in August; and increasingly negative news from a number of key mature markets in Europe, including the U.K., which compound ongoing severe conditions in the U.S.," said Standard&Poor's credit analyst Xavier Buffon. We consequently believe that HC's performanceDEU15102010 151020 1510 15HeidelbergCement AG341201EUROMIDAFRHEI@GRNEWSGLOBISSCORPBuildingCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/674197spcred/674197normThe latest Research Update from S&Pglobal9/30/2008 1:00:00 PM175Research Update674197GermanyConstruction MaterialsEurope, Middle East, AfricaGlobal IssuersCorporationsBuilding MaterialsResearch UpdateOn Sept. 30, 2008, Standard&Poor's Ratings Services revised its outlook on Germany-based cement producer HeidelbergCement AG (HC) to negative from stable. At the same time, the 'BBB-/A-3' long- and short-term corporate credit and all issue ratings were affirmed. The outlook revision reflects fresh concerns about covenant headroom; heavy refinancing needs, which will need to be addressed by mid-2010; our reassessment of the group's future prospects in light of its half-year results published in August; and increasingly negative news from a number of key mature markets in Europe, including the U.K., which compound ongoing severe conditions in the U.S. We consequently believe that HC's performance will fall short of our previous expectations; that the group's debt reduction and restorationDEU15102010 151020 1510 15HeidelbergCement AG341201EUROMIDAFRHEI@GRRESUPDGBRDEU411349411336411352N3925T15102010 151020 1510 15Hanson Ltd.HeidelbergCement Finance B.V.Hanson Australia Funding Ltd.341746369505376682USAEUROMIDAFRHNS@LNGLOBISSCORPBuildingCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/cs/74553cs/74553norm London Conference: European Building Materials - Have the Emerging Markets Emerged? This article is a transcript of the Presentation we gave on European Building Materials at CreditSights London September #### Conference last week....997372613948Transcripts21Sector Outlooks9/24/2008 10:06:00 PM150This article is a transcript of the Presentation we gave at our London September 2008 Conference last week where we reviewed the increasing importance of the Emerging Markets to the credit quality of European Building Materials credits.745539056YesD0Article136810191951202120631012corp176166210141155120320422119319437896987220466311310711710074553Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/65214cs/65214norm US Housing and European Building Materials: Pulling Down the House of Cards? We review the impact of the current US Housing Crisis on the credit quality of European Building Materials credits. How significant is the actual exposure...652147880YesD0Article2021136810191012195121442063corphy411933789572723936149M&A Activity42High Yield48Transcripts9/24/2008 6:05:00 AM150Slides and transcript from our speech at the US Housing Investor Discussion Forum held this week in London. We review the impact of the current US Housing Crisis on the European Building Materials sector.65214Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/400370_report_framefitch/400370_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Hanson LimitedHeidelbergCement AG80359952836124659/9/2008 2:16:00 PM01000000010300000103090001030901425Full Rating ReportHEI400370_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/428637_pr_framefitch/428637_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.AB ElectroluxAB VolvoAir Liquide S.A.Akzo Nobel N.V.Arcelik A.S.BAE Systems plcBASF SECemex Espana S.A.Ciba Holding Inc.Cognis GmbhCompagnie Financiere Michelin (CFM)Continental AGCRH plcDaimler AGEurochem Mineral And Chemical Company JscEuropean Aeronautic Defence and Space Co., (EADS)Fiat SpAFinmeccanica SpAFord Otosan A.S.GKN Holdings plcHeidelbergCement AGHolcim LtdKazanorgsintez JSCKoninklijke DSM N.V.Lafarge S.A.Lanxess AGLyondellBasell Industries AF S.C.ANizhnekamskneftekhimOAO Kontsern StirolPetkim Petrokimya Holding A.S.Pfleiderer AGPSA Peugeot Citroen S.A.Renault SARhodia S.A.Robert Bosch GmbHRolls Royce Group plcSABIC Europe BVSaint Gobain S.A.Saudi Basic Industries Corporation (SABIC)SIBUR Holding OJSCSolvay SAThales S.A.Vestel Elektronik Sanayi ve TicaretVolkswagen AG80090305803595788035994380360000803602128036051580360517803605248036070880360751803611538036126680361286803612888036133980361368804609688050441880506592806221928063842281023431819133198207994882291694823062948250791682557725828287258303273183209014832242718325412083309480834888718361246583746465837718658383786583942865839596668401726984667073847482708/7/2008 2:20:00 PM01000000010300000103060001030900010309010103110001031300010313010103130201031400010315000103170385Press Release012053131902010AIAKZAARCLKBABASCIBNCONCRHDAIDSMEADELUX BFFNCHEIHOHOLNKZOSLXSNKNCPETKMPFD4RHARRSGOSOLBSTIRUGVESTLVOLV AVOW428637_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/72808cs/72808norm HeidelbergCement #H## - Geared Up for the Downturn! HeidelbergCement today reported solid operating results for the six months ended June #### amid a generally worsening economic environment, with the expected robust contribution from...6133967Earnings Reports - Financials8/6/2008 12:05:00 AM150728083726YesD0Article10197872corpHeidelbergCement today reported solid operating results for the six months ended June 2008 amid a generally worsening economic environment.72808Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/T1889565ccbn/T1889565norm...Good day, ladies and gentlemen, and welcome to today's interim report January to July #### conference call. This call is being hosted by Dr. Bernd Scheifele. My name is Selena, and I'll be your event manager for today. During the presentation, your line will remain on listening only. (OPERATOR INSTRUCTIONS). And now I would like to hand the call over to Dr. Nager. ... 8/5/2008 6:05:00 PMHeidelbergCement AG106.0000FinalQ2 2008 HeidelbergCement AG Earnings Conference Call TranscriptHEI.F2:00pm CETTranscriptT1889565Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/fitch/428243_pr_framefitch/428243_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.HeidelbergCement AG836124658/5/2008 10:17:00 AM0100000001030000010309000103090185Press ReleaseHEI428243_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/71669cs/71669norm HeidelbergCement #Q## Tearsheet HC's credit recovery, which saw it move back to investment grade in late #### has since been hijacked by the acquisition of Hanson, which continues to be a major strategic and operational challenge for...71669624YesC21Tearsheet1019tearsheets/premium39372617/24/2008 9:05:58 AM15071669Credit & Investment ResearchCreditSightsSINGAPORE - Albedo Ltd (AL) agreed to acquire the entire share capital of HealthTrends Medical Investments Pte Ltd, a medical clinics owner and operator, from Singapore Medicine International Ltd, Health Network Alliance Pte Ltd, Pentvest Investments Ltd, BH Investments Ltd, Redwood International Pte Ltd, and other shareholders, in exchange for #.## bil new AL ordinary shares valued at ###.# mil Singapore dollars ($###.### mil US), in a reverse takeover transaction. The shares were valued based on AL's closing stock price of S$#.### ($#.###) on July #, the last full trading day prior to the announcement. The transaction was subject to due diligence review, shareholders and regulatory approvals.7/9/2008 2:30:31 PM01318X42295J01318X42295JAlbedo LtdHealthTrends Medical Investments Pte LtdAlbedo LtdHealthTrends Medical Investments Pte Ltdhttp://www.alacrastore.com/storecontent/Thomson_M%26A/Albedo_Ltd_acquires_HealthTrends_Med_Invest_Pte-1994049040sdc/19940490401994049040Copyright © 2008, Thomson Financial, All Rights ReservedSG SESDAQMetal and Metal ProductsSingaporeCold-rolled steel sheet, strip and bars3316FFForeignPublic5IB3316:Cold-rolled steel sheet, strip and bars3321:Gray and ductile iron foundries3322:Malleable iron foundries3353:Aluminum sheet, plate, and foil3355:Aluminum rolling and drawing, nec3365:Aluminum foundries5051:Metals service centers and offices5093:Scrap and waste materials3316:Cold-rolled steel sheet, strip and bars3321:Gray and ductile iron foundries3322:Malleable iron foundries3353:Aluminum sheet, plate, and foil3355:Aluminum rolling and drawing, nec3365:Aluminum foundries5051:Metals service centers and offices5093:Scrap and waste materialsHealth ServicesSingaporeOffices and clinics of doctors of medicine8011FFForeignPrivate976979001Mnfr,whl steel prodOwn,op med clinicsNewly Issued Ord ShStock1027569001Jul 9 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.00000Albedo Ltd, headquartered inSingapore, manufactures andwholesales steel products.These include rolled steelsheets, cast iron and relatedmaterials. Its otheractivities are scrap metalrecycling and aluminumrecycling. It has exclusivedistributorships with globalbrands including HeraeusElectro-Nite InternationalN.V., Metallurgica Gmbh & Coand BHP Billiton Group. Thecompany was founded in June1987.Albedo Ltd, headquartered in Singapore, manufactures andwholesales steel products. These include rolled steelsheets, cast iron and related materials. Its otheractivities are scrap metal recycling and aluminum recycling.It has exclusive distributorships with global brandsincluding Heraeus Electro-Nite International N.V.,Metallurgica Gmbh & Co and BHP Billiton Group. The companywas founded in June 1987.Albedo Ltd, headquartered in Singapore, manufactures and wholesales steel products. These include rolled steel sheets, cast iron and related materials. Its other activities are scrap metal recycling and aluminum recycling. It has exclusive distributorships with global brands including Heraeus Electro-Nite International N.V., Metallurgica Gmbh & Co and BHP Billiton Group. The company was founded in June 1987.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000HealthTrends MedicalInvestments Pte Ltd,headquartered in Singapore,owns and operates medicalclinics and wellness centerswhich provide medical,aesthetics, and wellness careservices. The company'soperations are carried outacross Asia.HealthTrends Medical Investments Pte Ltd, headquartered inSingapore, owns and operates medical clinics and wellnesscenters which provide medical, aesthetics, and wellness careservices. The company's operations are carried out acrossAsia.HealthTrends Medical Investments Pte Ltd, headquartered in Singapore, owns and operates medical clinics and wellness centers which provide medical, aesthetics, and wellness care services. The company's operations are carried out across Asia.0.000000.000000.000000.00000NSingapore Dollar07 Jul 08Mon, 07 Jul 2008 00:00:00 ESTDate Announced: 07/07/2008Date Effective:MergerNeutral0.000000.000000.000000.000000.000000.00000Price/Share0.00000207.2 Singapore Dollar207.200000.00000207.2 Singapore Dollar207.200000.000000.000000.000000.00000207.20000207.2 Singapore Dollar0.73400N76.997000.000000.000000.000000.000000.00000152.08500152.085000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.0000011.544000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.0000021.0000022.0000023.0000024.0000025.00000SINGAPORE - Albedo Ltd (AL)agreed to acquire the entireshare capital of HealthTrendsMedical Investments Pte Ltd, amedical clinics owner andoperator, from SingaporeMedicine International Ltd,Health Network Alliance PteLtd, Pentvest Investments Ltd,BH Investments Ltd, RedwoodInternational Pte Ltd, andother shareholders, inexchange for 1.12 bil new ALordinary shares valued at207.2 mil Singapore dollars($152.085 mil US), in areverse takeover transaction.The shares were valued basedon AL's closing stock price ofS$0.185 ($0.136) on July 4,the last full trading dayprior to the announcement. Thetransaction was subject to duediligence review, shareholdersand regulatory approvals.SINGAPORE - Albedo Ltd (AL) agreed to acquire the entire share capital of HealthTrends Medical Investments Pte Ltd, a medical clinics owner and operator, from Singapore Medicine International Ltd, Health Network Alliance Pte Ltd, Pentvest Investments Ltd, BH Investments Ltd, Redwood International Pte Ltd, and other shareholders, in exchange for 1.12 bil new AL ordinary shares valued at 207.2 mil Singapore dollars ($152.085 mil US), in a reverse takeover transaction. The shares were valued based on AL's closing stock price of S$0.185 ($0.136) on July 4, the last full trading day prior to the announcement. The transaction was subject to due diligence review, shareholders and regulatory approvals.SINGAPORE - Albedo Ltd (AL) agreed to acquire the entire share capital of HealthTrendsMedical Investments Pte Ltd, a medical clinics owner and operator, from Singapore MedicineInternational Ltd, Health Network Alliance Pte Ltd, Pentvest Investments Ltd, BHInvestments Ltd, Redwood International Pte Ltd, and other shareholders, in exchange for1.12 bil new AL ordinary shares valued at 207.2 mil Singapore dollars ($152.085 mil US),in a reverse takeover transaction. The shares were valued based on AL's closing stockprice of S$0.185 ($0.136) on July 4, the last full trading day prior to the announcement.The transaction was subject to due diligence review, shareholders and regulatoryapprovals.SINGAPORE - Albedo Ltd (AL) agreed to acquire the entire share capital of HealthTrends Medical Investments Pte Ltd, a medical clinics owner and operator, from Singapore Medicine International Ltd,Health Network Alliance Pte Ltd, Pentvest Investments Ltd, BH Investments Ltd, Redwood International Pte Ltd, and other shareholders, in exchange for 1.12 bil new AL ordinary shares valued at 207.2mil Singapore dollars ($152.085 mil US), in a reverse takeover transaction. The shares were valued based on AL's closing stock price of S$0.185 ($0.136) on July 4, the last full trading day prior tothe announcement. The transaction was subject to due diligence review, shareholders and regulatory approvals.SINGAPORE - Albedo Ltd (AL) agreed to acquire the entire share capital of HealthTrends Medical Investments Pte Ltd, a medical clinicsowner and operator, from Singapore Medicine International Ltd, Health Network Alliance Pte Ltd, Pentvest Investments Ltd, BH InvestmentsLtd, Redwood International Pte Ltd, and other shareholders, in exchange for 1.12 bil new AL ordinary shares valued at 207.2 mil Singaporedollars ($152.085 mil US), in a reverse takeover transaction. The shares were valued based on AL's closing stock price of S$0.185($0.136) on July 4, the last full trading day prior to the announcement. The transaction was subject to due diligence review,shareholders and regulatory approvals.$ 152.085 - PrimePartners Corp Fin - Adv0.00000PrimePartners Corporate Finance Pte Ltd1.00000Pending0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Pending-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000008011:Offices and clinics of doctors of medicine8093:Specialty outpatient facilities, nec976979001SG SESDAQSingapore3316ForeignPublic5IB8011:Offices and clinics of doctors of medicine8093:Specialty outpatient facilities, nec1027569001Singapore8011ForeignPrivate152.08500207.20000152.0850076.99700Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/fitch/390804_report_framefitch/390804_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.HeidelbergCement AG836124656/24/2008 2:15:00 PM01000000010300000103090001030901165Credit UpdateHEI390804_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/653596spcred/653596normThe latest Full Report from S&Pglobal6/12/2008 9:20:54 AM400Full Report653596GermanyConstruction MaterialsEurope, Middle East, AfricaGlobal IssuersCorporationsBuilding MaterialsFull ReportLarge size and strong market positions in highly consolidated areas Good cash flow generation Extensive product, end-market, and geographic diversity Cyclicality, seasonality, and high capital intensity of the cement industry Aggressive financial profile after Hanson acquisition The ratings on Germany-based cement producer HeidelbergCement AG (HC) are supported by its good profitability, strong market positions as a leading global player in heavy construction materials, and extensive geographic diversity, which translate into strong cash flow generation. These strengths are offset by the group's aggressive financial profile after the mostly debt-financed Hanson acquisition. With sales of about €11 billion in 2007, HC is one of the largest fully integrated global heavy building materials companies alongside Holcim Ltd. (BBB+/Stable/A-2), Lafarge S.A. (BBB/Stable/A-2), and CemexDEU15102010 151020 1510 15HeidelbergCement AG341201EUROMIDAFRHEI@GRFULLGLOBISSCORPBuildingCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/653597spcred/653597normThe latest Summary from S&Pglobal6/12/2008 9:20:54 AM175Summary653597GermanyConstruction MaterialsEurope, Middle East, AfricaGlobal IssuersCorporationsBuilding MaterialsSummaryThe ratings on Germany-based cement producer HeidelbergCement AG (HC) are supported by its good profitability, strong market positions as a leading global player in heavy construction materials, and extensive geographic diversity, which translate into strong cash flow generation. These strengths are offset by the group's aggressive financial profile after the mostly debt-financed Hanson acquisition. With sales of about €11 billion in 2007, HC is one of the largest fully integrated global heavy building materials companies alongside Holcim Ltd. (BBB+/Stable/A-2), Lafarge S.A. (BBB/Stable/A-2), and Cemex Inc. (BBB/Negative/--) after Cemex's acquisition of Rinker Group Ltd. (BBB/Negative/A-2). The acquisition of Hanson PLC, has significantly improved HC's market position, mainly in aggregates, and its vertical integration. Since its acquisition of U.K.-based building materials groupDEU15102010 151020 1510 15HeidelbergCement AG341201EUROMIDAFRHEI@GRSUMMARYGLOBISSCORPBuildingCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/653091spcred/653091normThe latest News from S&Pglobal6/10/2008 8:20:18 AM100News653091GermanyConstruction MaterialsEurope, Middle East, AfricaGlobal IssuersCorporationsBuilding MaterialsNewsFRANKFURT (Standard&Poor's) June 10, 2008--Standard&Poor's Ratings Services said today it revised its outlook on Germany-based cement producer HeidelbergCement AG (HC) to stable from negative, reflecting an expected improvement in credit protection measures over the next few months. At the same time, we affirmed the 'BBB-' long-term and 'A-3' short-term corporate credit ratings and all the ratings on all outstanding debt of HeidelbergCement and its related entities. Since its acquisition of U.K.-based building materials group Hanson PLC for about €14 billion, which was completed on Aug. 23, 2007, HC has significantly reduced its indebtedness. This was achieved with disposal proceeds from the sale of its share in Vicat (€1.4 billion) and Maxit (€2.1 billion), the proceeds fromDEU15102010 151020 1510 15HeidelbergCement AG341201EUROMIDAFRHEI@GRNEWSGLOBISSCORPBuildingCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/653092spcred/653092normThe latest Research Update from S&Pglobal6/10/2008 8:20:18 AM175Research Update653092GermanyConstruction MaterialsEurope, Middle East, AfricaGlobal IssuersCorporationsBuilding MaterialsCapital GoodsResearch UpdateOn June 10, 2008, Standard&Poor's Ratings Services revised its outlook on Germany-based cement producer HeidelbergCement AG (HC) to stable from negative, reflecting an expected improvement in credit protection measures over the next few months. At the same time, we affirmed the 'BBB-' long-term and 'A-3' short-term corporate credit ratings and all the ratings on all outstanding debt of HeidelbergCement and its related entities. Since its acquisition of U.K.-based building materials group Hanson PLC for about €14 billion, which was completed on Aug. 23, 2007, HC has significantly reduced its indebtedness. This was achieved with disposal proceeds from the sale of its share in Vicat (€1.4 billion) and Maxit (€2.1 billion), the proceeds from two equity increases of aboutDEU15102010 151020 1510 15HeidelbergCement AG341201EUROMIDAFRHEI@GRRESUPDAUS15102010 151020 1510 15Rinker Group Ltd.369488EMERGINGLATAMERICAPACUSARIN@AUGLOBISSCORPBuildingCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/cs/51251cs/51251norm European Building Materials #### Sector Outlook Part II - Credit and Relative Value Review In Part I if our European Building Materials Outlook ####, we discussed the fundamental economic outlook for ####, reviewed M&A activity and...512517871YesD0Article10122048196013681951101920342063corphy1934781007261583397242High Yield21Sector Outlooks5/20/2008 2:14:41 PM150In Part II of our Outlook, we discuss the Sector's overall credit profile, present a peer comparison and provide detailed credit and investment summaries for our coverage universe.51251Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/52566cs/52566norm HeidelbergCement FY## - What About a Baa? Heidelberg Cement rounded off the FY## earnings season in European Building Materials with a set of strong results that confirmed its credit recovery. The results confirmed that the US Residential...525662007YesD0Article1019corphy7872613958368Earnings Reports - Industrials/Consumer42High Yield5/20/2008 2:14:41 PM150In the wake of strong FY06 results, we maintain our Positive Credit View and Overweight Recommendation as we wait for Moody's to finally return HeidelbergCement to Investment Grade.52566Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/50966cs/50966norm European Building Materials #### Outlook: Part I - Sector Trends In this report, we discuss the fundamental economic outlook for ####, review M&A activity and event risk, analyse the sector's equity performance, talk about the near...1960corphy7819372461393724Asbestos42High Yield21Sector Outlooks5/19/2008 6:49:20 PM150CreditSights expects the 2006 themes to continue into 2007, but with a more muted construction outlook. We maintain our Marketweight recommendation on the European Building Materials Sector.509667149YesD0Article1368202120481012195120341961101950966Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/47342cs/47342norm Heidelberg Cement Q### - Rebuilding Solid Foundations We initiate coverage on Heidelberg Cement (Ba#/BBB-/BBB-) following the German cement producer's release of strong Q### results. Headline figures showed a healthy sales uplift and...473422120YesD0Article1019corphy78726133968Earnings Reports - Industrials/Consumer42High Yield5/16/2008 10:12:14 AM150We initiate coverage on Heidelberg Cement (Ba1/BBB-/BBB-) following the German cement producer's release of strong Q306 results.47342Credit & Investment ResearchCreditSights