Frankfurt am Main, July 29, 2015 -- Moody's Investors Service, ("Moody's") has today placed on review for upgrade the Ba3 corporate family rating (CFR) and the Ba3-PD probability of default rating (PDR) of Italcementi S.p.A. (ITC), as well as the (P)Ba3 rating for its MTN programme, Ba3 senior unsecured ratings of its subsidiary Italcementi Finance S.A. and Ba2 senior unsecured rating of its subsidiary Ciments Francais S.A. following its proposed acquisition by HeidelbergCement AG (HC). The NP/(P)NP short term rating remains unaffected by this rating action and is not on review.

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