MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has
assigned its 'A-' corporate credit rating to the recently formed construction
materials producer Vulcan Materials Co.
Vulcan is the new parent holding company for Legacy Vulcan Corp and is also
the parent of the unrated Florida Rock Industries Inc.
The ratings agency also assigned its 'A-' rating to the 1.23 bln usd of
senior unsecured debt issued by Vulcan on Dec 6.
"Vulcan's credit quality benefits from its strong competitive position in
aggregates, favourable long-term outlook for publicly funded construction
projects, moderate capital spending requirements, strong pricing fundamentals,
and past conservative financial policies, S&P said.
TFN.newsdesk@thomson.com
npr/man
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