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S& Puts Rtgs on Lafarge Corp. on CreditWatch,Neg.
Business Editors
NEW YORK--(BUSINESS WIRE)--Standard &Poor's
Feb. 1, 2000--
Standard &Poor's today has placed the single-'A'-minus corporate credit and senior unsecured debt ratings of Lafarge Corp. on CreditWatch with negative implications, following the recent announcement that parent Lafarge S.A. is making an unsolicited cash offer for Blue Circle Industries PLC valued at 3.4 billion pounds sterling (U.S. $5.5 billion).
This CreditWatch placement reflects the potential for downward pressure on the credit profile of Lafarge Corp., which is 53%-owned by Lafarge S.A. Lafarge Corp. has a leading position in cement and construction materials (ready-mix, aggregates and concrete products) in North America. Lafarge S.A.'s 'A-1' short-term and single-'A' long-term corporate credit ratings were also recently placed on CreditWatch with negative implications, Standard &Poor's said. -- CreditWire
Copyright 2000, Standard &Poor's Ratings Services
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