Research Update: Cemex Outlook Revised To Stable From Positive, 'B' Corporate Rating Affirmed, Based On Slower-Than-Expected Recovery Sep 10
Standard & Poors, September 2010
Abstract
Cemex's operating and financial improvement is taking longer than we previously expected, on a slower economic recovery in key markets. We are revising our outlook on Cemex and its key operating subsidiaries to stable from positive, while affirming our ratings, including the 'B' global scale corporate credit ratings, on the companies. The stable outlook reflects our expectation that Cemex will keep generating sufficient cash to meet its debt maturities and that its key financial ratios will improve gradually in the coming quarters. On Sept. 7, 2010, Standard & Poor's Ratings Services revised its outlook on Mexico-based building materials company Cemex S.A.B. de C.V. to stable from positive. At the same time, we affirmed our 'B' corporate credit ratings on the...
Companies mentioned in this report are:
- CEMEX S.A.B. de C.V.
- CEMEX Inc.
- CEMEX Materials LLC.
- CEMEX Mexico S.A. de C.V.
- CEMEX Espana S.A.
- CEMEX Finance Europe B.V.
- CEMEX Corp.
- C5 Capital Ltd.
- C10 Capital Ltd.
- C8 Capital Ltd.
- C10-EUR Capital (SPV) Limited
Action: Affirmed
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- CEMEX S.A.B. de C.V.
- CEMEX Inc.
- CEMEX Materials LLC.
- CEMEX Mexico S.A. de C.V.
- CEMEX Espana S.A.
- CEMEX Finance Europe B.V.
- CEMEX Corp.
- C5 Capital Ltd.
- C10 Capital Ltd.
- C8 Capital Ltd.
- C10-EUR Capital (SPV) Limited
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