Financial

Mexico's Cemex struggling to repay debts

14 December, 2020

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Strong dollar is likely to delay the repayment of debts

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Mexico-based Cemex is focussing on reducing its debts as it is burdened with debt load from its 2007 acquisition of Australia's Rinker, reports Reuters.

"The question now is what to expect with respect to the strength of the dollar. If it stays like this, then getting our investment grade will be displaced for one or two years more," said, Fernando Gonzalez, CEO of Cemex.

The cement company recorded decline in revenue as compared to the dollar.

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