PARIS (Standard&Poor's) April 2, 2003--Standard&Poor's Ratings Services said today that it had placed its 'BBB-' long-term and 'A-3' short-term corporate credit rating on Germany-based HeidelbergCement AG, the fourth-largest cement producer worldwide, on Credit Watch with negative implications. The placement follows the company's announcement of the acquisition of a further 49% stake in German cement producer Anneliese, bringing HeidelbergCement's stake up to 90%. The deal is still subject to official approval. "We are concerned that HeidelbergCement may now be unable to sufficiently improve its currently weak credit measures and maintain the current rating, contrary to our earlier expectations," said Standard&Poor's credit analyst Xavier Buffon. "The amount of the acquisition and/or a possibly more aggressive financial
