FRANKFURT (Standard&Poor's) Dec. 8--Standard&Poor's Ratings Services said today it raised to 'BB+' from 'BB-' its long-term senior unsecured debt rating on Germany-based HeidelbergCement AG (corporate credit rating: BB+/Stable/B) as a result of decreased contractual subordination. At the same time, the 'BB+' rating on the €700 million senior unsecured bond issued by wholly owned subsidiary HeidelbergCement Finance B.V. was affirmed. In addition, Standard&Poor's assigned its 'BB+' debt rating to HeidelbergCement's new €1 billion syndicated loan facility. This new loan will replace the previous €1.5 billion syndicated loan which has been withdrawn. The rating is subject to final documentation. "The senior unsecured debt--which relates to a €3 billion MTN program and a €300 million bond--was upgraded
