Strong first quarter results has led to Moody’s upgrading its investment rating of Heidelberg Cement. The company has now been raised to a Ba1 rating and the unsecured long term rating has been increased from Ba3 to Ba2.
“We are very happy that the solid performance in Q1 has prompted another rating upgrade,” said Heidelberg CEO Dr Bernd Scheifele. “As a result, two rating agencies see us only one notch away from our targeted investment grade rating.”
