S&P upgrades Cemex to Investment Grade

S&P upgrades Cemex to Investment Grade

Standard & Poor’s (S&P) has raised Cemex’s long-term global scale issuer credit rating to Investment Grade (BBB-). The upgrade is attributed to Cemex’s robust financial and operating performance, effective deleveraging strategy, and adaptable capital allocation.

The upgrade to Investment Grade marks a significant achievement for Cemex, reflecting its record results and consistent financial performance over several years.

“Achieving an investment-grade credit rating from S&P is a very important milestone for Cemex,” said CEO Fernando A González. In 2023, Cemex reported a 25% growth in EBITDA and more than a doubling in Free Cash Flow after maintenance capex.

S&P also elevated Cemex’s national scale issue-level rating in Mexico from mxAA to mxAA+.