According to Reuters, shares in Cemex dropped by more than 8% on 20 January, punished by a record low peso exchange rate that increases its debt load.
Cemex is hampered by a heavy dollar-denominated debt load from its 2007 purchase of Australian building products company Rinker, and has been focusing on reducing debt in a bid to regain an investment-grade rating by 2018.
The peso hit a record low on 20 Janury, reaching 18.6 pesos to the dollar.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/the-americas/21012016/cemex-shares-fall-over-360/
