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TEXT-S&P rates CEMEX Finance
2012年10月4日 / 晚上7点18分 / 5 年前

TEXT-S&P rates CEMEX Finance

Oct 4 - Standard & Poor's Ratings Services assigned its 'B-' issue-level
rating and a recovery rating of '3' to CEMEX Finance LLC's proposed 10-year
benchmark dollar bonds. The recovery rating of '3' indicates that lenders can
expect substantial (50% to 70%) recovery in the event of a payment default.

CEMEX Finance LLC is a wholly-owned subsidiary of CEMEX S.A.B. de C.V.(CEMEX; 
B-/Watch Neg/--) and is incorporated for an unlimited period of time as a 
private limited liability company under the laws of Delaware. The bonds will 
benefit from a security package on the same terms as in all other senior 
capital markets debt. The security package includes the full and unconditional 
guarantee, on a joint and several basis and on a general senior basis, by 
CEMEX Mexico, S.A. de C.V., CEMEX Espana, S.A., CEMEX Corp., New Sunward 
Holding B.V., and CEMEX's other subsidiaries. 

CEMEX intends to use the net proceeds from the offering to repay its debt 
under its Facilities Agreement. If the company is able to successfully issue 
the proposed bonds and raise most of the funds required for the next $1 
billion payment under the Facilities Agreement due March 2013, we will soon 
consider resolving the CreditWatch listing on all the ratings on CEMEX and its 
key operating subsidiaries--CEMEX Espana, CEMEX Mexico, CEMEX Corp., and CEMEX 
Inc.-where we placed them on July 3, 2012. For the latest credit rationale on 
CEMEX, please see "Cemex 'B-' Rating Placed On CreditWatch Negative On Higher 
Short-Term Risk From Proposed Debt Refinancing," published July 3.

Related Criteria And Research
     -- Cemex 'B-' Rating Placed On CreditWatch Negative On Higher Short-Term 
Risk From Proposed Debt Refinancing, July 3, 2012
     -- Corporate Ratings Criteria 2008, April 15, 2008


CEMEX S.A.B. de C.V.
  Corporate credit rating        B-/Watch Neg/--

 10-year benchmark dollar bonds  B-/Watch Neg
  Recovery rating                3

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