CEMEX announced that Fitch Ratings upgraded CEMEX’s Corporate credit rating in its global scale to BB from BB-.

According to Fitch, the upgrade reflects the strengthening of CEMEX’s capital structure due to US$5 billion in debt reduction in the last three years, primarily due to robust free cash flow generation and asset sales. Other considerations for the upgrade are CEMEX’s strong business positions as well as the refinancing of about US$7 billion of debt, which has lowered interest payments by about US$200 million per year.

Please read the complete press release: https://cmx.to/2O2pJXb