Sep. 4 at 2:21 AM
S&P Global Ratings revised its outlook on Cemex to Positive from Stable while affirming the Mexican cement maker’s ‘BBB-’ issuer credit rating, as well as its ‘BBB-’ rating on senior unsecured debt and ‘BB’ rating on subordinated perpetual bonds. Cemex’s adjusted debt-to-EBITDA ratio stood at 2.5x in the first half of 2026, while EBITDA rose nearly 27% year over year to
$1.8 billion. S&P expects EBITDA to reach about
$3.6 billion in 2026 and
$3.7 billion in 2027.
S&P projects operating free cash flow of about
$1.4 billion in 2026, more than double 2025’s
$649 million, supported by higher EBITDA, lower interest payments and roughly
$1.1 billion in capital spending. Cemex also increased ordinary dividends to
$180 million for 2026, up 40% from 2025, and launched a share buyback program of up to
$500 million over three years.
$CX