Fitch Ratings upgrade Cemex to investment grade

Cemex CEO says milestone rating achievement confirms company’s strategy and execution against it 

CEMEX have reached full investment-grade status after being upgraded to BBB– by rating agency Fitch Ratings. This follows hard on the heels of S&P Global Ratings’ upgrade in March 2024.

‘Achieving investment grade is a milestone for Cemex,’ said Fernando A. González, chief executive officer of Cemex.

‘This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our capital allocation priorities of growth investments in key markets and shareholder return.’

Cemex’s strategic focus on its key markets was advanced further last week by the announcement of the agreement to divest its operations and assets in the Philippines.

Also, Cemex also recently announced the closing of a €750 million bank refinancing as part of its comprehensive financing plan designed to increase liquidity and flexibility.