ENGLEWOOD (S&P Global Ratings) May 19, 2025--S&P Global Ratings today assigned its ?BBB+? issue-level rating to Amrize Ltd. ?s proposed senior unsecured notes, issued by its financing subsidiary Holcim Finance US LLC . The company?s exchange offer includes existing senior unsecured notes due 2033, 2036, 2039, 2043, 2046, and 2026 that were issued and/or guaranteed by entities within the Holcim Ltd. group that will not be a part of Amrize Ltd. post spin. The new notes, as issued by Holcim Finance US LLC, will have the same interest rates and maturity dates as the original notes. Further, Amrize Ltd. will fully and unconditionally guarantee the notes, and they will rank pari passu to other senior unsecured debt. We believe there