On May 4, 2007, Standard&Poor's Ratings Services placed its 'BBB-/A-3' corporate credit ratings on HeidelbergCement AG (HC) and its 'BBB+/A-2' corporate credit ratings on Hanson PLC on CreditWatch with negative implications following the announcement by HC that it is considering a bid for Hanson. While no details of the possible offer were disclosed, the scale of the combination could result in a significant increase in the debt burden of the resulting entity that could, in turn, result in a lower rating for the combined entity. Alternatively, depending on the price, structure, and financing of the transaction, the rating on HC could be affirmed, as the combination of the businesses would substantially strengthen HC's leading position in the heavy
