Financial analysts S&P Global has upgraded cement maker Cemex for the second time this year.
According to S&P, the upgrade reflects the continued improvement of Cemex’s financial performance, as well as the rapid completion of its asset divestment plan.
Cemex’s chief financial officer, Jose Antonio Gonzalez, said, “We are pleased with S&P’s recognition of our sustained track record of deleveraging and improvement of our capital structure. This is their second upgrade in 8 months which confirms our continued progress.”
Gonzalez added, “We remain fully committed towards the goal of achieving an investment grade capital structure.”