Mexico City (Standard&Poor's) July 9, 2015 – Standard&Poor's Ratings Services said today that its ratings and outlook on Elementia S.A. (BB+/Stable/--) are not immediately affected by the company's announcement that it will launch an IPO for a total amount of up to Mexican peso (MXN)4,522.5 million. In our opinion, the announced IPO won't materially change Elementia's business and financial risks profiles. Considering a price per share of MXN 22.5, Elementia plans to use about MXN 3.697 billion to increase its cement production capacity in the next 24 months, P$681 million for the final payment of its minority ownership of its cement joint-venture with Lafarge, and the remaining for general corporate purposes, including acquisitions, investments, debt payments
