Cemex outlook changed to stable from positive by S&P

Cemex outlook changed to stable from positive by S&P
Published: 08 September 2010

Cemex had the outlook on its debt revised to stable from positive by Standard & Poor’s Ratings Services.

S&P said it changed the outlook on Monterrey, Cemex’s ratings after the company reported “weak” second- quarter earnings and lowered its 2010 profit forecast. Cemex’s debt rating is unchanged at B, five levels below investment grade, according to a statement from the rating company.

“The outlook action reflects our view that Cemex’s operating and financial recovery will take longer than we had previously expected,” Laura Martinez, an S&P analyst in Mexico City, said in the statement.