Mexico-based cement producer CEMEX's operating performance exceeded our expectations for 2012. CEMEX improved its capital structure through recent debt refinancing and increased its liquidity through asset sales. We are raising our global scale corporate credit ratings on CEMEX to 'B' from 'B-' and Mexican national scale ratings to 'mxBBB-/mxA-3' from 'mxBB/mxB', and removed them from CreditWatch with positive implications. The positive outlook reflects CEMEX's favorable revenue growth prospects and our expectation that the company will continue to improve its key financial metrics over the next 12 to 18 months. MEXICO CITY (Standard & Poor's) Jan. 25, 2013--Standard & Poor's Ratings Services raised its global scale corporate credit ratings on CEMEX S.A.B. de C.V. and its key operating subsidiaries, CEMEX España...
Companies mentioned in this report are:
- CEMEX S.A.B. de C.V.
Action: New Rating
Action: Outlook: Positive
Action: Removed From CreditWatch
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Research type: News
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