Via Bloomberg.com:
Cemex SAB’s bonds are yielding more than twice the average for Mexican corporate debt, prompting Citigroup Inc. and Barclays Plc to recommend buying the notes in a bet the company’s cement sales will weather the global economic slowdown.
"It’s a good time to buy the bonds if you can stomach the volatility,” says Eric Ollom, a credit strategist at Citigroup Inc. Ollom, who recommends investors buy Cemex’s notes due in 2018, said the following in a telephone interview from New York:
“It seems to have bottomed out. The market still has concerns regarding growth, profits, and bank covenants, but few believe a default is forthcoming.”
Click here for more on CEMEX bonds.
No comments:
Post a Comment