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.
Mexican cement company
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.
