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LafargeHolcim to Save $120 Million in Debt Payments on Upgrades

LafargeHolcim Ltd., the cement maker formed through a merger last month, is set to save about $120 million in debt payments over the next four years after some bonds were raised to investment grade by Moody’s Investors Service Inc.

Lafarge SA’s notes were upgraded on Monday, paving the way for a 125 basis-point reduction in coupon payments. Seven euro-and pound-denominated issues, totaling $4.3 billion and maturing through 2019, will no longer be subject to a premium caused by junk ratings.