FRANKFURT (Standard&Poor's) Oct. 2, 2003--Standard&Poor's Ratings Services said today that its ratings and outlook on Germany-based HeidelbergCement AG (BB+/Negative/B) are not affected by news that it is in initial negotiations with U.K.-based RMC Group PLC to buy parts of the group's German operations. However, to maintain the current ratings, any large acquisitions would have to be financed through equity or additional asset disposals, as the possible positive effects of the acquisition on HeidelbergCement's performance would most likely not be immediate. Standard&Poor's expects HeidelbergCement to improve its financial profile and return to credit measurement levels appropriate for the rating category. Over the cycle, the ratio of funds from operations to adjusted net debt should average
