CRH says does not expect S&P downgrade

DUBLIN, July 7 | Tue Jul 7, 2009 4:43am EDT

DUBLIN, July 7 (Reuters) - CRH (CRH.I), one of the world's largest building suppliers, said on Tuesday it did not expect Standard & Poors (S&P) to cut its credit rating in the next 6-9 months.

"The measures that the ratings agencies use are generally centred around cashflow and our cashflow has held up very well in the first half of the year so we don't see a deterioration in our credit metrics that they would use," Finance Director Glenn Culpepper told an analyst call.

"We don't have an indication from S&P that they are going to downgrade us but that is obviously their decision to make."

S&P rate CRH BBB+ with a negative outlook. (Reporting by Carmel Crimmins; Editing by Jon Loades-Carter)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.