Research Update: HeidelbergCement AG And Hanson PLC Remain On CreditWatch Negative On Planned Acquisition - S&P Global Ratings’ Credit Research

Research Update: HeidelbergCement AG And Hanson PLC Remain On CreditWatch Negative On Planned Acquisition

Research Update: HeidelbergCement AG And Hanson PLC Remain On CreditWatch Negative On Planned Acquisition - S&P Global Ratings’ Credit Research
Research Update: HeidelbergCement AG And Hanson PLC Remain On CreditWatch Negative On Planned Acquisition
Published May 15, 2007
Published May 15, 2007
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On May 15, 2007, Standard&Poor's Ratings Services said that its 'BBB-/A-3' corporate credit ratings on HeidelbergCement AG (HC) and its 'BBB+/A-2' corporate credit ratings on Hanson PLC remain on CreditWatch with negative implications following today's announcement by HC to bid for Hanson. The ratings were originally placed on CreditWatch with negative implications on May 4, 2007. Although the acquisition is expected to be partially equity financed, credit measures will significantly deteriorate, which could lead to a lower rating for the combined entity. Pro forma the transaction, funds from operations to debt are expected to deteriorate to about 10%, but could significantly improve afterward through disposal proceeds. The acquisition will significantly strengthen HC's business risk profile, creating the world's

  
Report Type:

Research Update

Ticker
HEI@GR
Issuer
HeidelbergCement AG
GICS
Construction Materials (15102010)
Sector
Global Issuers
Country
Germany
Region
Europe, Middle East, Africa
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: HeidelbergCement AG And Hanson PLC Remain On CreditWatch Negative On Planned Acquisition" May 15, 2007. Alacra Store. May 11, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-HeidelbergCement-AG-And-Hanson-PLC-Remain-On-CreditWatch-Negative-On-Planned-Acquisition-578402>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: HeidelbergCement AG And Hanson PLC Remain On CreditWatch Negative On Planned Acquisition May 15, 2007. New York, NY: Alacra Store. Retrieved May 11, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-HeidelbergCement-AG-And-Hanson-PLC-Remain-On-CreditWatch-Negative-On-Planned-Acquisition-578402>
  
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