Published On: June 25th, 2024Categories: Trade Ideas
In this investment case, we focalize our attention on Cemex SAB de CV (CX), the Mexico-based 3rd largest global cement company. Thanks to its solid deleveraging trajectory, and its strong and consistent improvement in operating metrics, Cemex has recently been awarded full investment-grade status by both S&P’s and Fitch. We consider Cemex’ bonds as attractively valued compared to peers, with potential for further spread compression, and benefitting from the opening up of a new investors base following the recent rating upgrades.
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