Cemex Comfortable with Covenants

Cemex Comfortable with Covenants

Mexico Corporate & Sovereign Strategy Bonds

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,

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial