Fitch trims Elementia

Fitch Ratings said it downgraded the foreign and local currency issuer default ratings of Elementia, SAB de CV to BB- from BB+.

Fitch also removed Elementia’s rating watch negative and assigned a negative outlook.

The downgrade reflects expectations the company’s capital structure will weaken beyond current rating sensitivities for a sustained period, due to expected declines in cement demand in Mexico and the U.S. because of a downturn in construction spending due to sharp economic contractions in both countries, Fitch said.

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