Low Government Spending Affecting Producers Of Construction Materials: S&P.

Internet Securities, November, 2001

MEXICO CITY, Nov 21, 2001

Low government investment spending has hurt the profitability of the majority of construction materials producers this year, said Standard & Poor's. The situation of construction companies is "worrying," although their long-term outlooks "remain strong," said S&P. While Cemex (BMV:CEMEX, NYSE:CX) has progressed in the reduction of its total debt and the refinancing of its short-term obligations, "An additional advance is required to bring the key indexes close to the average levels for the category of the BBB- Negative risk," said S&P. Vitro (BMV:VITRO, NYSE:VTO), said S&P, will likely achieve advances during the fourth quarter in its plans to refinance its short-term debt, reported Mexico City daily el Economista. Apasco...

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