CEMEX Upgraded by S&P Global Ratings for the Second Time in 2017
September 25 2017 - 1:57PM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE:CX) announced today that
on September 20th, S&P Global Ratings ("S&P") upgraded its
Corporate credit rating in its global scale to BB from BB-.
According to S&P, the upgrade reflects the continued
improvement of CEMEX's financial performance and leverage metrics
during 2017 fueled by a faster-than-expected completion of the
asset divestment plan, the early conversion of part of the optional
convertible Notes due March 2018, and a generally favorable
business conditions in its main markets. In addition, S&P
highlights the benefits arising from the new 2017 credit
agreement.
“We are pleased with S&P’s recognition of our sustained
track record of deleveraging and improvement of our capital
structure. This is their second upgrade in 8 months which confirms
our continued progress,” said Jose Antonio Gonzalez, CEMEX’s Chief
Financial Officer. “We remain fully committed towards the goal of
achieving an investment grade capital structure.”
Additionally to the upgrade in its global scale, S&P also
upgraded CEMEX's Corporate credit rating in its national scale to
mxA from mxA-. The rating outlook is stable.
CEMEX is a global building materials company that provides
high-quality products and reliable services to customers and
communities in more than 50 countries. CEMEX has a rich history of
improving the well-being of those it serves through innovative
building solutions, efficiency advancements, and efforts to promote
a sustainable future. For more information, please visit:
www.cemex.com
A security rating is not a recommendation to buy, sell or hold
securities and may be subject to revision or withdrawal at any
time, and each rating should be evaluated independently of any
other rating. This press release contains forward-looking
statements and information that are necessarily subject to risks,
uncertainties, and assumptions. Many factors could cause the actual
results, performance, or achievements of CEMEX described to be
materially different from those expressed or implied in this
release. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described herein.
CEMEX assumes no obligation to update or correct the information
contained in this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170925006209/en/
CEMEX, S.A.B. de C.V.Media Relations:Jorge Perez,
+52(81) 8888-4334mr@cemex.comorInvestor Relations:Eduardo
Rendon, +52(81) 8888-4256ir@cemex.comorAnalyst
Relations:Lucy Rodriguez, +1(212)
317-6007ir@cemex.com
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