We believe that German building materials group HeidelbergCement AG's credit metrics will gradually improve toward levels commensurate with a higher rating. We are revising the outlook on HeidelbergCement to positive from stable. We are affirming the 'BB-' long-term and 'B' short-term corporate credit ratings on HeidelbergCement. The positive outlook reflects our view of the gradual improvement in HeidelbergCement's credit metrics. On Sept. 10, 2010, Standard&Poor's Ratings Services revised the outlook on German building materials group HeidelbergCement AG to positive from stable. At the same time, we affirmed the long-term corporate credit rating of 'BB-' and the short-term corporate credit rating of 'B'. The rating actions reflect our view that HeidelbergCement's credit metrics will gradually improve toward levels commensurate
