S&P affirms Cemex

Standard & Poor's said it affirmed its BBB- local and foreign currency long-term corporate credit rating on Cemex SA de CV and its key operating subsidiaries, Cemex España SA, Cemex Mexico SA de CV and Cemex Inc.

S&P also affirmed its BBB- senior unsecured debt rating on Cemex's notes due 2006 and 2009 and Cemex España's putable capital securities and Cemex Finance Europe BV's €2 billion senior unsecured MTN program. Cemex's national scale mxAA corporate credit rating and mxAA and mxA-1+ senior unsecured ratings have also been affirmed.

"The affirmation follows a review by Standard & Poor's of Cemex's results during the past three years and its operating and financial prospects," said S&P credit analyst Jose Coballasi.

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