Cement News tagged under: Standard & Poor's

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Standard & Poor's puts Cemex 'B-' rating on watch negative

04 July 2012, Published under Cement News

Ratings 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 ...