... Ltd's ratings are supported by its strong business profile and its number-one global market positions. Boosted by the merger, its manufacturing footprint is one of the most geographically diverse among its peer group. Fitch Ratings believes LafargeHolcim's cash-flow stability has improved following the merger, offsetting more cyclical trends in the building materials sector, which is exposed to regional construction cycles with differing local economic, weather, regulatory and socio-political dynamics. Performance Weaker Than Peers': Fitch expects LafargeHolcim's trading performance to be weaker than that of its peers such as CRH and HeidelbergCement, due to its lower exposure to North America. Fitch expects European building materials markets to perform worse than North American markets, although this is factored into the ratings. However, Fitch expects the group's near-term trading to improve in line with improving global construction....
