Financing strategy

In recent years HeidelbergCement was able to present itself on the international financial markets on an active, continuous basis and perform a series of highly successful capital market transactions. With credit facilities, bonds, a European Medium Term Note (EMTN) Programme, and a Euro Commercial Paper Programme, HeidelbergCement can make use of a wide range of financing instruments.

Besides a syndicated revolving credit facility with a volume of EUR 1 billion, further committed credit lines are available to the Group to guarantee liquidity. HeidelbergCement also has a considerable volume of confirmed credit lines on an uncommitted basis.


Rating of HeidelbergCement

	long-term rating	outlook	short-term rating
Standard & Poor’s  30 September 2008	BBB-	negative	A-3
Moody’s 15 May 2007	Baa3	negative	Prime-3
Fitch 18 January 2008	BBB-	negative	F3