Cemex upgraded to Investment Grade by Standard & Poor’s
Rating agency Standard & Poor’s (S&P) announced today that it has upgraded Cemex’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy, and flexible capital allocation.
“Achieving an investment-grade credit rating from S&P is a very important milestone for Cemex,” said Fernando A. González, CEO of Cemex. “While we had record results last year, this rating is recognition of successful execution against our medium-term strategy and consistent financial performance over several years.”
In 2023, Cemex’s EBITDA grew 25%, while Free Cash Flow after maintenance capex more than doubled.
S&P also upgraded Cemex’s national scale issue-level rating (Mexico) scale to mxAA+ from mxAA.
Cemex is a global construction materials company that is building a better future through sustainable products and solutions that is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development.
Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies.
