S&P: Cemex view to positive

Standard & Poor’s said it revised the outlook on Cemex SAB de CV to positive from stable.

The agency also said it affirmed the B+ global scale and mxBBB national scale ratings on Cemex and its subsidiaries, Cemex Espana SA, Cemex Mexico SA de CV and Cemex Inc.

S&P said it is keeping the recovery rating at 3, indicating 50% to 70% expected default recovery.

Cemex has the capacity to capitalize on the positive industry momentum in its key markets, which could improve credit metrics in the next 12 months closer to an aggressive financial risk profile, the agency said.

A sustained recovery and positive economic growth prospects in the U.S. market and expected increased public-sector spending in Mexico will support top-line growth, S&P said.

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