Cemex says strong dollar may delay higher debt rating

Cemex says strong dollar may delay higher debt rating
Published: 10 November 2015

Tagged Under: Cemex Mexico Debt Reduction 

Mexican cement major Cemex said on Thursday that the strength of the US dollar could postpone the ability of the company to win back an investment grade debt rating, according to a report by Reuters.

Cemex, burdened with a heavy debt load from its 2007 acquisition of Australia's Rinker, has been focusing on reducing debt in a bid to regain an investment-grade rating by 2018.

"The question now is what to expect with respect to the strength of the dollar. If it stays like this, then getting our investment grade will be displaced for one or two years more," CEO Fernando Gonzalez told reporters at an event in Mexico City.