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 andMexico - 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.
This document is submitted in compliance with Article 50 of the Mexican Issuers' Regulation (Circular Única de Emisoras).
About GCC
GCC is a leading supplier and producer of cement, concrete, aggregates, and construction‐related services in
Forward-Looking Statements
This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, legal, public health crises including COVID-19, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; and pricing, business strategy and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.
For further information, contact:
GCC Investor Relations
Sahory Ogushi
+52 (614) 442 3176
+ 1 (303) 739 5943
soguship@gcc.com
Source:
2022 GlobeNewswire, Inc., source