Holcim Ltd. (HOLN), the world’s second- largest cement-maker, risks losing its investment-grade credit rating this year unless it sells assets, according to an ING note.
The company “has not satisfied investment-grade metrics since 2007,” Ian Osburn, an ING analyst, wrote in a note.
Peter Gysel, a spokesman for Holcim, said: “The ratings agencies have written nothing about that we should make divestments to keep our rating.”
Moody’s assigned a negative ratings outlook to Jona, Switzerland-based Holcim in November 2011. The company is rated Baa2 by Moody’s Investors Service, BBB by Standard & Poor’s and BBB by Fitch, the second-lowest investment grades.
Holcim’s European competitors Lafarge SA (LG) and HeidelbergCement AG (HEI) have already been assigned junk ratings.
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