Fitch upgrades Cemex rating

Mexican cement company Cemex has confirmed that it has received an upgrade from Fitch Ratings from 'B+' to 'BB-' due to the conversion of around US$820 million (€746.96 million) of bonds into capital. Fitch also compensated the refinance of US$8.6 billion of the company’s debt, which has reduced its annual financial expenditure by around US$200 million. In addition, the new rating included upgrades in the national scale from 'BBB' up to 'A-' and in the short-term national scale from F3 up to F2.

Quarry Products / July 31, 2015

Mexican cement company 643 Cemex has confirmed that it has received an upgrade from 4449 Fitch Ratings from 'B+' to 'BB-' due to the conversion of around US$820 million (€746.96 million) of bonds into capital.

Fitch also compensated the refinance of US$8.6 billion of the company’s debt, which has reduced its annual financial expenditure by around US$200 million.

In addition, the new rating included upgrades in the national scale from 'BBB' up to 'A-' and in the short-term national scale from F3 up to F2.

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