Fitch upgrades Cemex after debt reduction

Fitch upgrades Cemex after debt reduction

Credit Ratings Fitch Ratings Upgrade Revision Debt Loans Bonds Capital Markets Mexico United States

Fitch Ratings said Monday that it upgraded Cemex by one notch to BB with a positive outlook, saying the Mexican cement company has lowered debt levels significantly in the past year and a half. "The upgrade reflects Cemex's strong operating performance during the last 18 months, which along with the proceeds from the sale of carbon credits for $550 million has allowed the company to reduce net debt by about $1.5 billion to $8.1 billion," Fitch said in a report.  Looking ahead, Fitch said it expe

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