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Cemex shares fall by over 8%

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World Cement,

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

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