The rating of HeidelbergCements has been downgraded by Exane BNP Paribas from "neural" to "underperform".It was stated by Exane analyst, Paul Roger, that his credit expectations of the German cement plant were reduced as a survey result focused the European region in a negative light and a weak undercurrent from leading indicators. Around one-third of HeidelbergCement’s business is generated from Europe.The net profit of HeidelbergCement in 2012 and 2013 is also likely to be affected by higher financing costs and US infrastructure expenditure.