...November 29, 2021 PARIS (S&P Global Ratings) Nov. 29, 2021--S&P Global Ratings today said that CRH PLC (###+/Stable/A-2) should end 2021 with credit metrics similar to the previous year, if not slightly better. We foresee comfortable rating headroom for the company, which it might use for mergers and acquisitions (M&A), as well as shareholder remuneration. Both the ratings and outlook are unaffected. On Nov. 23, 2021, CRH announced that it expects to report EBITDA in excess of $5.25 billion for full-year 2021. We anticipate that CRH will show resilience in the fourth quarter compared with peers, despite the significant increase in raw material prices and global supply chains constraints. Its resilience is underpinned by its value-added solutions model and its solid ability to pass-through cost increases to customers. We forecast FFO to debt of about 48%-51% in 2021, compared with 49% last year. Although this is slightly above our threshold for an upgrade, CRH has hinted that M&A and shareholder...
