Cemex Reaches ‘North Star’ With S&P Lift to Investment Grade
- Mexican cement maker had brush with default back in 2009
- Company’s plan included selling billions in non-core assets
A worker stacks Cemex cement bags at a wholesale warehouse in Mexico City, Mexico, on Thursday, Feb. 8, 2024.
Photographer: Jeoffrey Guillemard/BloombergThis article is for subscribers only.
Cemex SAB has finally achieved what it for years called its “north star”: Investment-grade status by S&P Global Ratings.
The ratings company upgraded the Mexican cement maker’s credit rating to BBB-, one level above junk, and moved the outlook to stable from positive, according to a Wednesday statement.