Grupo Cementos de Chihuahua SAB de CV : Standard & Poor's upgrades GCC rating to BB-
October 07, 2015 at 01:24 pm EDT
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STANDARD AND POOR'S UPGRADES GCC RATING TO BB-
Chihuahua, Chihuahua, October 2nd, 2015 - Grupo Cementos de Chihuahua, S.A.B. de C.V. (BMV: GCC*) (the Company) informs that Standard and Poor's upgraded GCC's corporate credit and debt ratings to BB- with a stable outlook.
According to Standard and Poor's, the rating action reflects GCC's continued improvement in operating and financial performance and credit metrics over the past few quarters, as a result of GCC's ability to capture the positive momentum in the residential and nonresidential construction sectors, in both the U.S. and Mexico. Additionally, in S&P's view, GCC will continue improving its financial performance, based on operating efficiencies and a prudent financial policy, reflection of which is the recently concluded refinancing of its bank debt, which will provide greater financial flexibility to the company.
In S&P's opinion, GCC's ability to capture the positive momentum in the U.S. and Mexico, is reflected in the higher cement volumes sold and better pricing environment. For the last 12 months ended June 2015, GCC posted strong results compared with the same period last year, with revenue growth of 18.1%.
About GCC
GCC is a leading supplier of cement, aggregates, concrete and construction-related services in Mexico and the United States. The Company has an annual cement production capacity of 4.4 million tons.
Founded in 1941, the Company's shares trade on the Mexican Stock Exchange under the ticker symbol GCC*.
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.
GCC, S.A.B. DE C.V. 
