November 30, 2021
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
Rating agency also gives a positive outlook to the Mexican cement company on expectations of "robust" cash flow