Cemex Creditors to Get 50% in Default, Barclays Says

Cemex SAB creditors would likely recover as much as 50 cents on the dollar if the company were to default on its debts, according to Barclays Plc.

“We estimate that recovery for senior unsecured debt would be 40-50 percent at Cemex SAB,” Barclays analyst Christopher Buck wrote in a report. He said he expects the company to avoid default by working out a refinancing agreement with creditor banks. “We remain optimistic.”