...CEMEX's rating affirmation and Positive Outlook incorporate the company's commitment and continued ability to reduce its high gross debt level, which will further improve its capital structure in 2017. The company benefitted from a combination of price increases across its key markets and cost management initiatives resulting in EBITDA margin expansion to above 20% and FCF generation of USD1.3 billion during 2016. The company improved its capital structure by reducing gross debt by USD2.3 billion during 2016 by delivering stronger FCF generation and through the receipt of cash from closed asset sales. Fitch expects CEMEX will further reduce its gross debt position by at least an additional USD2 billion in 2017, further improving its credit profile....
