by Amruth Sundarkumar | Dec 9, 2022 | Corporates, Credit Ratings
Mexican building materials company CEMEX was upgraded to BB+ from BB by S&P. This comes on the back of CEMEX’s commitment to reduce leverage and expectations of its debt-to-EBITDA gradually falling towards 3x. S&P notes that under the company’s...
by Amruth Sundarkumar | Jun 14, 2022 | Credit Ratings, High Yield Bonds
Mexican cement producer Cemex rating was upgraded to BB+ from BB by Fitch with a stable outlook. Fitch notes that Cemex has strong operational performance alongside its asset sale progress. The company has been implementing a debt reduction and has also improved its...
by Amruth Sundarkumar | Nov 30, 2021 | Corporates, Credit Ratings
Mexican materials company CEMEX was upgraded to BB from BB- with a positive outlook by Fitch. The upgrade comes on the back of CEMEX’s “strong operating performance during the last 18 months” and proceeds from carbon credit sales of $550mn helping it...
by Amruth Sundarkumar | Jun 21, 2021 | High Yield Bonds
Mexican cement company Cemex plans to redeem €450mn ($534mn) of its 2.75% 2024s, leaving €200mn ($237mn) outstanding. Cemex, rated BB-, will pay 101.375% of its face value plus accrued interest on July 22. This comes after Cemex issued $1bn in perpetual bonds...
by Amruth Sundarkumar | Jun 2, 2021 | High Yield Bonds
Mexican cement company Cemex is planning to issue perpetual dollar bonds on its second sale in the international bond market this year. The planned perpetual deferable and subordinated hybrid securities have an expected rating of B, three notches below its issuer...
