Fitch moves Cemex outlook to positive

Fitch Ratings said it revised its outlook for Cemex SAB de CV to positive from stable and affirmed the BB+ ratings on the company and its unsecured notes as well as the BB- rating on its hybrids. The agency upgraded Cemex’s national scale rating to AA(mex) from AA-(mex).

“The positive outlook reflects ongoing improvements in Cemex operating cash flow generation that could lead to stronger FCF, which if used to prepay debt, would bring leverage ratios to levels commensurate with investment-grade peers. Cemex's ability to reduce its net adjusted debt to around $7 billion, on a sustainable basis, is likely to positively impact ratings,” the agency said in a press release.

© 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.