Colombia: Fitch Ratings upgraded Cementos Argos’ long-term national ratings on its ordinary bond and commercial paper issuance programmes of up to US$170bn and US$113bn to AAA(col) with a stable outlook. The upgrade reportedly reflects a robust capital structure, a strong business position in key markets and ample liquidity following receipt of funds from the sale of its US operations. The company reduced gross debt by US$250bn since December 2023.
“This rating recognises the strengthening of our financial structure and supports our long-term vision. We will remain focused on creating economic value for our shareholders, with disciplined capital allocation and an optimistic outlook for the future of the company,” said Juan Esteban Calle, president of Cementos Argos.
