...MILAN (S&P Global Ratings) March 2, 2018--S&P Global Ratings said today that its ratings and outlook on LafargeHolcim Ltd. (###/Negative/A-2) are unchanged following LafargeHolcim's publication of its 2017 results and targets for 2018. On March 2, 2018, LafargeHolcim published its 2017 results, with like-for-like net sales growth of 4.7% and recurring EBITDA growth of 6.1%. LafargeHolcim reported free operating cash flow of Swiss franc (CHF) 1.7 billion in the period, and net debt of CHF14.3 billion at end-2017. Those results are broadly in line with our base case for 2017 published on Nov. 3, 2017. LafargeHolcim also updated its 2018 financial targets, including like-for-like net sales growth of 3%-5%, an at least 5% increase of recurring EBITDA, and capital spending below CHF2 billion. We also note that the company's strategy has shifted to growing the top and bottom line, with bolt-on acquisitions and selected investments in all its four business segments, which we understand it plans...
