Moody's: Eagle Materials' cement plant acquisition is credit negative
Announcement: Moody's: Eagle Materials' cement plant acquisition is credit negative. Global Credit Research- 26 Nov 2019. New York, November 26, 2019-- Moody's Investors Service said that Eagle Materials Inc.' s announced agreement to acquire a cement plant in Louisville, KY, a limestone quarry located in Battletown, KY and seven cement distribution terminals in various surrounding cities is credit negative because the transaction is expected to be completely debt financed and...Eagle Materials, through its subsidiaries, is a supplier of heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the U.S. The company's products are commodities that are used in commercial and residential construction; public construction projects; projects to build, expand, and repair roads and highways; and in oil and natural gas extraction. The company's business is organized into three sectors: Heavy Materials, which includes the cement and concrete and aggregates segments; Light Materials, which includes the Gypsum wallboard and recycled paperboard segments; and Oil and Gas Proppants, which are used in oil and gas extraction.
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