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Moodys upgrades outlook on Italcementi

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Based on Italcementi?s 1H14 results, Moody?s has changed the group?s outlook to ?positive? from ?stable? on the company. After the positive conclusion on the ?i.150? project, the rating agency Moody?s, after last March announcement of review, confirmed the ?Ba3? corporate family rating, while the outlook is changed to ?positive? from ?stable?. The same rating is affirmed for the EMTN programme and for the subsidiary Italcementi Finance. Following the recent transaction, which led Italcementi to control the total share capital of Ciments Franzais and the related delisting of the company, Moody?s announced the withdrawal of the corporate family rating on the company and confirmed the Ba2 rating on Ciments Franzais notes due in 2017.

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