Best Coating for Cinder Block Exterior Wall ?

[Killory]

We have an exterior below ground level patio in SouthEast with 6 - 8 ft. high walls in various areas. The walls were built with concrete block and are coated with a stucco type material. It is 8 years old and the stucco coating can be pulled off with your hand at this point. I am looking for the BEST vertical coating material that will withstand moisture, weather, and will securely adhere to the walls. I know we will need to adhere with mesh or wire of some type too and I do plan on using a contractor for all of the work. I have heard good and bad opinions on Permacrete. I am having a difficult time finding something comparable. I have read that Poly Vinyl Acetate, Acrylic and Styrene all have problems when used in vertical applications. Any suggestions or recommendations would be appreciated.

[Rich]

Bump.. anybody help here? Never done anything like this except for scratch coats with metal lathe and mortar.

[mjpliv]

We use the polymer modified parging systems up north here with some success. Here is one of the many manufacturers -
http://www.dryvit.com/

The most important part of any stucco/parging system is getting a good bond between the base and the concrete. You also need a system that allows moisture to pass through and not get trapped under the surface. This is the cause of most spalling.