S&P lifts Cemex

Standard & Poor's said it raised its long-term corporate and senior unsecured credit ratings on Cemex SA de CV and its key operating subsidiaries - Cemex Espana SA, Cemex Mexico SA de CV and Cemex Inc. - to BBB from BBB-.

The agency said it also upped its long-term national-scale corporate and senior unsecured credit ratings on Cemex to AA+(mx) from AA(mx).

The outlook is stable.

The issuer's A-1+(mx) short-term national-scale rating was affirmed, the agency said, noting the rating action reflects the strong financial performance of Cemex during 2005 and the successful integration of RMC's operations into the Cemex system.

S&P said the ratings on Cemex and its key operating subsidiaries reflect the company's leading position in the global cement industry, proven turnaround experience and operating efficiency.

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