Cementos Argos S A : Fitch Ratings raises the credit outlook of Cementos Argos to “Positive”
January 18, 2022 at 05:02 pm EST
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Fitch Ratings raises the credit outlook of Cementos Argos to "Positive"
enero 18, 2022
Argos, a Grupo Argos cement company, received an upgrade in its credit rating outlook, going from "Stable" to "Positive" according to Fitch Ratings, an international credit rating agency.
The Positive Outlook granted by Fitch Ratings reflects the good performance of Cementos Argos and the expectation that the generation of operating cash flows will continue with a growth trend in the following years, a trend that has been benefited by the operational efficiency strategies that the company has launched.
It should be noted that among the reasons for the positive rating of Argos, its competitive position stands out by consolidating itself as one of the main producers of cement and concrete in Colombia, the United States and Central America and the Caribbean, which is reflected in the increase in volumes of shipped material. Likewise, the company increased its EBITDA margin and reduced debt thanks to the strategic divestments it has carried out and its operational efficiencies programs.
On the other hand, the strategy implemented by Argos to protect the cash flow from the impacts of the pandemic generated favorable financial results and allowed the company to maintain the employment of 100% of its employees and continue creating value for the community through different social investment projects.
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Cementos Argos SA published this content on 18 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2022 22:01:08 UTC.
Cementos Argos SA is a Colombia-based company engaged in the production of cement, aggregates and concrete mix products, such as white and gray cement, lime and mortar. It is also involved in the operation and management of quarries and deposits of clay and limestone. The Company has its production plants located in Sogamoso, San Gil, Barranquilla, Toluviejo, Sabanagrande, Nare, Cairo, Rioclaro and Yumbo. The Company owns such subsidiaries as Valle Cement Investments Ltda, Lafarge Cementos SA de CV, Sociedad Portuaria Las Flores SA, Concretos Argos SA, Ganaderia Rio Grande SAS, Urbanizadora Villa Santos SAS, Transatlantic Cement Carriers Inc, Lafarge Cementos SA de CV, Ciments Guyanais and Argos SEM SA, among others.
CEMENTOS ARGOS S.A. 
