Moody’s Lowers Camargo Cement Unit

Moody’s Lowers Camargo Cement Unit

Brazil Corporate & Sovereign Strategy

Moody’s has lowered the rating of InterCement Brasil to B1 from Ba3, it says, based on increased leverage following the completion of the takeover of Portugal’s Cimpor. The ratings of its Argentinean subsidiary Loma Negra also were lowered one notch to B1. “The acquisition of Cimpor is transformative, greatly increasing scale and geographic diversification of the company though at the expense of heightened geo-political risk. The consummation of the transaction will add significant debt burden a

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial