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European rating agency. Objective, transparent, independent.

Heidelberg Materials AG

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BBB Outlook STA 12.04.2024 18.04.2024
BBB Outlook STA 22.05.2023 25.05.2023
BBB Outlook STA 08.11.2022 15.11.2022
BBB Outlook STA 05.11.2021 11.11.2021
BBB Outlook STA 14.12.2020 16.12.2020
BBB Outlook STA 23.08.2017 28.08.2017

News

  • 18.04.2024
    Creditreform Rating has affirmed the unsolicited corporate issuer ratings of Heidelberg Materials AG and Heidelberg Materials Finance Luxembourg S.A. at BBB. Creditreform Rating has also affirmed the unsolicited corporate issue ratings of the long-term local currency senior unsecured notes issued by Heidelberg Materials AG and Heidelberg Materials Finance Luxembourg S.A. at BBB. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings remains stable. The initial unsolicited short-term rating of Heidelberg Materials AG and Heidelberg Materials Finance Luxembourg S.A. has been set to L3. For more details regarding the ratings, please refer to our rating update below.
  • 25.05.2023
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of HeidelbergCement AG as well as the unsolicited corporate issuer rating of HeidelbergCement Finance Luxembourg S.A. at BBB. Creditreform Rating has also affirmed the unsolicited corporate issue ratings of the long-term local currency senior unsecured notes issued by HeidelbergCement AG and HeidelbergCement Finance Luxembourg S.A. at BBB. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings remains stable. For more details regarding the ratings, please refer to our rating update below.

    During the year, HeidelbergCement AG and HeidelbergCement Finance Luxembourg S.A. were renamed to Heidelberg Materials AG and Heidelberg Materials Finance Luxembourg S.A. respectively. Future ratings on these rating objects will be under their respective new names.
  • 15.11.2022
    Creditreform Rating has affirmed the unsolicited corporate issuer rating of HeidelbergCement AG as well as the unsolicited corporate issuer rating of HeidelbergCement Finance Luxembourg S.A. at BBB. Creditreform Rating has also affirmed the unsolicited corporate issue rating of the long-term local currency senior unsecured notes issued by HeidelbergCement AG and HeidelbergCement Finance Luxembourg S.A. at BBB. These issues are included in the list of ECB-eligible marketable assets, which can be found on the ECB's website. The outlook for the ratings remains stable. For more details regarding the ratings, please refer to our rating update below.
  • 11.11.2021
    Creditreform Rating has confirmed HeidelbergCement AG's unsolicited corporate issuer rating of BBB. The outlook remains stable. The main reasons for the stable rating assessment are the overall positive operating performance and satisfactory cash-flow generation in the current fiscal year. We assume that the result of the financial ratio analysis, which was negatively impacted by the pandemic-related impairments in 2020, should recover noticeably. In this context, we assume that the various country-specific economic stimulus programs will continue to have a positive impact on HeidelbergCement's business activities and financial and earnings position. Taking into account the existing liquidity, the available credit facilities, and the proven ability to access the capital markets, we consider the current liquidity position of the HeidelbergCement Group to be solid overall, despite increased liquidity needs as a result of significant cost inflation and the share buyback program.
  • 16.12.2020
    Creditreform has confirmed HeidelbergCement AG's unsolicited corporate issuer rating of BBB. The outlook remains stable. The key factors for the stable rating are the strong market position in the cement industry, the geographical diversification, the implemented cost-cutting and liquidity-preserving measures as well as the solid earnings and internal financing strength that has been confirmed in the current 2020 financial year, which has been strongly negatively affected by the COVID 19 pandemic. The mainly pandemic-related impairment of goodwill and other assets will lead to a significantly negative earnings statement and, despite a considerable reduction in (net) financial debt, to a deterioration of key financial ratios for the full year 2020. Excluding the impairment, we consider the financial and earnings position to be noticeably improved due to the implemented cost reductions and strong cash generation, implying a stable rating assessment despite the market environment characterized by uncertainties and volatilities due to the pandemic.
  • 28.08.2017
    Creditreform Rating has carried out an unsolicited corporate rating of HeidelbergCement AG.