ENGLEWOOD (S&P Global Ratings) May 15, 2025--S&P Global Ratings today assigned its ?A-2? short-term rating to Amrize Ltd. ?s $2 billion commercial paper program, issued by its financing subsidiary, Holcim Finance US LLC . The commercial paper will be backstopped by Amrize?s $2 billion revolving credit facility. Notes issued under the program will rank at least pari passu with its other unsecured and unsubordinated liabilities. We view this issuance as in line with the company?s previously announced capital structure plans post spin-off from Holcim Ltd. All of our existing ratings on Amrize and its operating subsidiaries are unchanged, including the ?BBB+? long-term issuer credit rating and stable outlook. For more information, see our most research update , published March 25,
