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.