Cemex local rating raised by Fitch

Cemex local rating raised by Fitch

Corporate & Sovereign Strategy

Cemex’s local scale debt rating has been upgraded by Fitch a notch to BBB thanks to “incremental improvement in the company’s financing expenses,” the ratings agency said Wednesday. Fitch cited several refinancing operations that have decreased Cemex’s debt cost, including its March sale of a €400m ($535m) 2021 bond and a $1bn 2024, which was used to buy back more expensive liabilities. The upgrade affects Cemex’s peso-denominated 2017 bonds also, Fitch said. The cement and related products make

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