GCC B de C : FITCH RATINGS UPGRADES GCC’S OUTLOOK TO POSITIVE, BBB- RATING REMAINS
January 18, 2023 at 11:50 pm
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GCC, S.A.B. de C.V. (BMV: GCC* or "the Company"), a leading producer of cement and concrete in the United States and Mexico, announces that the rating agency Fitch Ratings has affirmed the company's credit rating at BBB- company, revising the outlook from stable to positive.
The positive outlook reflects GCC's prospects to continue to strengthen its financial and business position, while maintaining a solid capital structure.
Today's revision also reflects Fitch's expectations that GCC will continue its strong free cash flow generation, which should help to fund its inorganic growth strategy, without significantly affecting leverage levels.
Fitch's report cites 4 major drivers in GCC's outlook update, including:
Strong leadership positions in the United States and Mexico
Resilience throughout business cycles and during volatile markets
Large and important producer of oil-well cement
Solid and consistent operating and financial results
Fitch Ratings also highlights that GCC's rating reflects its solid business position in the
cement, concrete and aggregates segments; diversified customer base; as well as a strong
free cash flow generation through different economic cycles.
Grupo Cementos de Chihuahua SAB de CV published this content on 18 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2023 23:49:05 UTC.
GCC SAB de CV, formerly known as Grupo Cementos de Chihuahua SAB de CV, is a Mexico-based company primarily engaged in the construction materials sector. The Company foocuses on the production and marketing of cement and other related building materials. The Companyâs product portfolio includes Portland grey cements, ready-mixed concrete, gypsum, additives and limestone aggregates, as well as such prefabricated products as walls, architectural concrete blocks and paving stones, among others. The Company also offers technical support and assistance for the installation of its prefabricated structures. The Company operates in Mexico and the United States, through such subsidiaries as GCC Comercial SA de CV, GCC Concreto SA de CV, GCC Rio Grande Inc, GCC Dacotah Inc, GCC Alliance Concrete Inc, Mid Continent Concrete Inc and Consolidated Ready Mix Inc.