Fitch upgrades ratings one notch to BBB- from BB+; outlook positive
Reflects Lafarge's strong strategic ties and pending operational integration with Holcim Ltd (BBB/Stable), following the completion of the merger between the two companies to create LafargeHolcim .
Fitch maintains a one-notch differential between the two companies, because Holcim does not currently guarantee Lafarge's substantial debts that have no recourse to Holcim assets and also due to a lack of cross-default to Holcim