S&P upgrades CEMEX's credit rating

Rating agency Standard & Poor’s (S&P) has upgraded CEMEX’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation. 

“Achieving an investment-grade credit rating from S&P is a very important milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “While we had record results last year, this rating is recognition of successful execution against our medium-term strategy and consistent financial performance over several years.” 

In 2023 CEMEX’s EBITDA grew 25 per cent, while Free Cash Flow after maintenance capex more than doubled. 

S&P also upgraded CEMEX’s national scale issue-level rating (Mexico) scale to mxAA+ from mxAA.