S&P upgrades Cemex’s corporate rating
Published by Rebecca Bowden,
Assistant Editor
World Cement,
S&P Global Ratings has upgraded Cemex’s Corporate credit rating in it global scale to BB- from B+.
According to S&P, this upgrade reflects the company’s sustainable deleveraging trajectory, improved profitability and its financial discipline to protect its liquidity.
“We are pleased to see our discipline and consistency in reducing our leverage reflected in an improvement in our credit rating,” said Jose Antonio Gonzalez, Cemex’s Chief Financial Officer. “This should further enhance our financial flexibility and reduce our cost of capital. We remain committed to achieving an investment grade capital structure.”
S&P also upgraded Cemex’s Corporate credit rating in its national scale to mxA- from MxBBB. This will allow Cemex to potentially access the institutional Mexican bond market. The rating outlook is stable.
Read the article online at: https://www.worldcement.com/the-americas/31012017/sp-upgrades-cemexs-corporate-rating/
You might also like
Ready to revolutionise the cement industry?
Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
New entrepreneur network brings start-ups and leading cement producers together in pursuit of net zero goal
The GCCA has launched the third programme in its Innovandi brand, the Innovandi Entrepreneur Network.