Cemex Comfortable with Covenants

Dec 9, 2011

With a sooner-than-expected windfall from the Venezuelan government and a steady reduction of bank debt, Cemex feels comfortable meeting loan covenants going into the first half of next year, though this may be a different story as leverage ratios become more stringent by the end of 2012. “We have said we are highly confident that we will meet our year end [2011] covenants. If you take a look at our operating cash flow there is little question we will not do it,” says Maher Al-Haffar, vice president of public...

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