Cement News tagged under: Credit Watch
S&P puts Cemex ratings on Watch Positive20 June 2017, Published under Cement NewsS&P Global Ratings has placed its 'BB-' global scale and 'mxA-/mxA-2' national scale ratings on Cemex on CreditWatch with positive implications. The recovery rating on all Cemex's rated senior debt remains at '3', which indicates that bondholders can expect a meaningful (50-70 per cent, in the higher band of the range) recovery in the event of a payment default. S&P writes: "Following our 30 January 2017 upgrade of Cemex, our base-case scenario assumed that the company would remain commit... |
Standard & Poor's puts Cemex 'B-' rating on watch negative04 July 2012, Published under Cement NewsRatings agency Standard & Poor’s (S&P) may cut the credit rating on Cemex and its key operating subsidiaries following the cement major’s recently announced refinancing proposal. Cemex’s debt is rated B- by S&P. Last week Cemex announced a proposal to refinance US$7.3bn in bank debt, including a three-year extension on debt due in 2014 and an initial US$1bn payment to lenders by March 31, 2013. Sources of payment may include select asset sales. “If lenders approve the proposal, in our ... |
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