Fitch: Cemex view stable

Fitch Ratings said it affirmed the issuer default ratings of Cemex, SAB de CV and its subsidiary, Cemex Espana SA at B.

In conjunction with these rating actions, Fitch said it affirmed Cemex's long-term national scale rating at BB-(mex) and its short-term national scale rating at B(mex).

Fitch has also assigned foreign currency IDRs of B to the following entities: C5 Capital (SPV) Ltd., a British Virgin Island restricted purpose company; C8 Capital (SPV) Ltd., a British Virgin Island restricted purpose company; C10 Capital (SPV) Ltd., a British Virgin Island restricted purpose company; C-10 Euro Capital (SPV) Ltd., a British Virgin Island restricted purpose company; Cemex Finance Europe BV, incorporated in the Netherlands; Cemex Finance LLC, a limited liability company incorporated in the United States; and Cemex Materials Corp., a limited liability company incorporated in the United States.

The outlooks for Cemex and its subsidiaries have been revised to stable from positive.

Fitch said the revision of the outlook to stable from positive reflects anemic prospects for private construction activity in the U.S. in the near term due to a weaker-than-anticipated recovery of the U.S. economy, as reflected by the recent downward revision of GDP growth. The strong focus on reducing high levels of public debt at the federal and state levels will also likely constrain the growth in government spending on infrastructure projects.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.