FRANKFURT (Standard&Poor's) March 2, 2007--Standard&Poor's Ratings Services said today that the announcement by Germany-based cement producer HeidelbergCement AG (BBB-/Stable/A-3) of its intention to sell its 35% stake in the French Vicat Group has no impact on the ratings or outlook on the company. How the proceeds are used will ultimately determine if this transaction will have a material impact on credit quality. If the proceeds are used to make a permanent reduction in debt that confirms a more conservative attitude toward financial risk, credit quality could improve. On the other hand, if all or part of the proceeds are reinvested in the business, or debt is only reduced temporarily, then any change in the rating will
