Trinidad Cement upgraded by ratings agencies

Trinidad Cement upgraded by ratings agencies
03 February 2017

Ratings agencies Fitch and Standard and Poor’s have upgraded their evaluations of the credit-worthiness of Trinidad Cement Ltd (TCL), the Trinidad Express reports.

Fitch moved its rating up two places, from B- to B+, while Standard and Poor’s moved the company to B grade.

Fitch explained that Cemex’s decision to increase its stake in the firm to 67 per cent would have a positive impact on TCL, expanding the options available to it in both marketing and finance.

Over the past five years, TCL has twice defaulted on loan obligations. 

Published under Cement News