CHIHUAHUA, Mexico, Feb. 02, 2021 (World NEWSWIRE) — Grupo Cementos de Chihuahua, S.A.B. de C.V., or GCC, (BMV: GCC*, or “the Company”), a top producer of cement and concrete in the United States and Mexico, today introduced that Fitch Rankings has raised the Company’s local and foreign forex Issuer Default Ratings (IDRs) to ‘BBB-‘ from ‘BB+’. Fitch also upgraded GCC’s US$260 million senior notes owing 2024 to ‘BBB-‘ from ‘BB+’, both with a secure outlook and reaching financial commitment quality rating.
The upgrades replicate GCC’s prospects to continue to improve its economical and organization situation more than the up coming a number of a long time.
Fitch’s report cites 3 key drivers in GCC’s rating improve, which include:
- Solid cost-free income circulation technology through the latest field cycle,
- Reliable working general performance with continued need, and
- Wholesome harmony sheet and leverage degree
Today’s upgrades also reflect Fitch’s expectations that GCC will carry on to go after acquisitions that additional enhance its positions inside of its essential marketplaces, although the corporation maintains conservative economic insurance policies.
GCC is a foremost provider and producer of cement, concrete, aggregates, and construction‐related services in the United States, Mexico and Canada, with an once-a-year cement manufacturing potential of 5.8 million metric tons. Founded in 1941, the Company’s shares are detailed on the Mexican Inventory Trade under the ticker image GCC*.
This push launch might include ahead-wanting statements. All statements that are not evidently historical in nature are ahead-hunting, and the words and phrases “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and related expressions are typically intended to discover ahead-searching statements. These statements are subject matter to hazards and uncertainties together with, among other people, modifications in macroeconomic, political, authorized, public health crises together with COVID-19, governmental or business enterprise disorders in the marketplaces the place GCC operates changes in interest charges, inflation rates and forex trade prices performance of the development marketplace and pricing, organization method and other aspects. Must a single or much more of these dangers or uncertainties materialize, or really should underlying assumptions confirm incorrect, true outcomes might differ materially from the beliefs, projections, and estimates explained herein. GCC assumes no obligation to update the data contained in this push launch.
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GCC Trader Relations
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