近日一位Cemex 的发言人对路透社说 “我们正在谈判，如果有了新的进展，我们将告之”，除此之外没有透露其他细节。
Cemex是美国最大的水泥供应商，目前陷入145亿美元的债务中。其中三分之一于今年到期。一些投资者猜测，墨西哥政府可能救助公司。
在墨西哥，美国和世界其他地区，水泥等建筑材料需求枯竭，分析师们预测到6月底Cemex将剩下很少的现金。并且如果未能说服债权人重组其债务，公司现金将没有补给。
这些预测没有计入Cemex所需要的额外现金，以及一旦有领先的墨西哥蓝筹公司购买Cemex在世界各地的公司来资助其日常业务。
墨西哥城券商Actinver的研究部主管Francisco Suarez说“Cemex在一二季度有足够的流动资金支付，除非他们不能抓紧时间调整。”。
2009年接下来的时间里，Cemex面临38亿美元债务到期，公司计划其中大部分通过销售资产和现金流产生的钱支付。分析师认为，Cemex今年可能已经支付或再融资了3亿美元。
据信 CEMEX公司3月份已经完成了其目标，并且在二季度末可能产生4亿美元现金。
但是，3月9日瑞士信贷在一份报告中表示，“下一季度形势将会更加严峻，因为我们估计该公司除了资产负债表上的最低运营现金水平将不会再有任何现金产生，到期的债务将超过产生的现金。”曾撰写过报告的分析师 Vanessa Quiroga近日表示，她并没有改变她的观点。
Cemex在七月到九月间面临4.28亿美元债务到期，此外，四季度将有22.1亿美元债务到期
Cemex是墨西哥的大公司之一，其他大公司还有国家石油公司PEMEX和亿万富Carlos Slim’的Telmex和美洲移动电话运营公司。
一旦失败 损失巨大
一些分析家说，类似于美国政府担忧金融机构陷入绝境带来的损失巨大，墨西哥当局可能认为CEMEX公司如果不履行其债务责任的损失巨大。
Cemex的违约将打击到持有其债务的墨西哥养老基金，增加其他墨西哥公司的融资成本，并可能使已经饱受打击的比索受到压力，三月初比索已创下16年来的最低水平。
3月9日以来，对于政府不会让CEMEX走入绝境的猜测使得CEMEX的股价上涨了50%以上。
券商Actinver的一份报告中说“CEMEX债务的严重性对墨西哥经济来说是非常重要的。排除与贸易相关的债务，CEMEX的债务占了墨西哥私营部门大约百分之三十的贷款。”
CEMEX公司还警告说 ， 它的周转性信贷设施已充分利用，如果它的经营业绩恶化或是资产出售计划完成不了，它可能无法支付贷款。
今年三月初，取消了传统的水泥季度业绩预期，降低预期为公司将克服困难。
CEMEX5年的投保费用，从3月9日以来以美元计价的债务增加了6%，已接近历史最高水平，显示了债券市场投资者的关注。
近日瑞银在一份报告中预测，墨西哥央行可能不久将购买300亿美元的美联储发行的政府债券，以此可以借钱给政府全资银行，然后救助CEMEX。
近日CEMEX公司的股票上涨了0.11%至9.25比索。
一个交易商告诉路透“目前仍有很大的传言称政府要介入救助公司”。
附英文：
Cemex may run out of cash by summer
(MONTERREY, Mexico) -- Mexican cement maker Cemex, dealing with massive debt and the weak U.S. economy, could run out of cash by summer if it fails to renegotiate millions of dollars in maturing debt, analysts warned.
"We are renegotiating and when we have something we will let you know," a Cemex spokesman told Reuters on Friday without elaborating.
Cemex, the United States' No. 1 cement supplier, is struggling with $14.5 billion of debt, a third of which is due this year, and some investors speculate the Mexican government could bail the company out.
As demand for building materials like cement dries up in Mexico, the United States and other parts of the world, analysts' are forecasting that Cemex will have very little cash left by the end of June and could miss payments if it fails to convince creditors to restructure its debt.
Those forecasts do not factor in additional cash needed by Cemex, once a leading Mexican blue-chip that bought companies around the world, to fund its day-to-day operations.
"Cemex has enough liquidity to make payments in the first and second quarters, but if they can't restructure they are running against the clock," said Francisco Suarez, head of research at the Actinver brokerage in Mexico City.
For the remainder of 2009, Cemex faces $3.8 billion in maturities, most of which it plans to pay with money from asset sales and cash flow generation. Analysts think the company may have already paid, or refinanced, $300 million this year.
Cemex is believed to have met its obligations through March and may have nearly $400 million in cash left by the end of the second quarter.
But, Credit Suisse said in a report on March 9, "The situation will be tighter for the following quarters, since we estimate the company will not have any cash beyond the minimum operating cash level on its balance sheet, and debt maturities should exceed cash generation." Analyst Vanessa Quiroga, who wrote the report, said on Friday that she had not changed her views.
Cemex faces maturities of $428 million between July and September and has $2.21 billion due in the fourth quarter.
Cemex is one of Mexico's largest companies, along with state oil company Pemex and billionaire Carlos Slim's Telmex and America Movil telephone operators.
TOO BIG TO FAIL
Similar to the U.S. government's concerns about financial institutions too big to fail, Mexican authorities may decide that Cemex is too big to be allowed to default on its debt, some analysts have said.
A default by Cemex would hit Mexican pension funds that hold its debt, drive up financing costs for other Mexican companies and could pressure the already battered peso, which hit a 16-year low earlier this month.
Speculation that the government will not let Cemex fail has pushed Cemex's stock up more than 50 percent since March 9.
"The magnitude of Cemex's debt is material for the Mexican economy," said a report from Actinver brokerage. "Excluding trade-related debt, Cemex's debt accounts for approximately 30 percent of loans to the Mexican private sector."
Cemex has warned that its revolving credit facilities are fully drawn and that if its operating results worsen or if it is doesn't complete planned asset sales, it may not be able to comply with payments.
Earlier this month, Cemex canceled its traditional quarterly results forecast, dampening expectations that the company would overcome its problems.
The cost of insuring Cemex's 5-year, dollar-denominated debt has increased by 6 percent since March 9 and is near an all-time high, illustrating concern among debt market investors.
UBS predicted in a report this week that Mexico's central bank would soon likely tap a $30 billion swap line with the U.S. Federal Reserve and then could lend money to a government-owned bank, which could then bail out Cemex.
Cemex shares edged up 0.11 percent to 9.25 pesos on Friday.
"There is still a very strong rumor that the government wants to step in and rescue the company," one trader told Reuters.
"We are renegotiating and when we have something we will let you know," a Cemex spokesman told Reuters on Friday without elaborating.
Cemex, the United States' No. 1 cement supplier, is struggling with $14.5 billion of debt, a third of which is due this year, and some investors speculate the Mexican government could bail the company out.
As demand for building materials like cement dries up in Mexico, the United States and other parts of the world, analysts' are forecasting that Cemex will have very little cash left by the end of June and could miss payments if it fails to convince creditors to restructure its debt.
Those forecasts do not factor in additional cash needed by Cemex, once a leading Mexican blue-chip that bought companies around the world, to fund its day-to-day operations.
"Cemex has enough liquidity to make payments in the first and second quarters, but if they can't restructure they are running against the clock," said Francisco Suarez, head of research at the Actinver brokerage in Mexico City.
For the remainder of 2009, Cemex faces $3.8 billion in maturities, most of which it plans to pay with money from asset sales and cash flow generation. Analysts think the company may have already paid, or refinanced, $300 million this year.
Cemex is believed to have met its obligations through March and may have nearly $400 million in cash left by the end of the second quarter.
But, Credit Suisse said in a report on March 9, "The situation will be tighter for the following quarters, since we estimate the company will not have any cash beyond the minimum operating cash level on its balance sheet, and debt maturities should exceed cash generation." Analyst Vanessa Quiroga, who wrote the report, said on Friday that she had not changed her views.
Cemex faces maturities of $428 million between July and September and has $2.21 billion due in the fourth quarter.
Cemex is one of Mexico's largest companies, along with state oil company Pemex and billionaire Carlos Slim's Telmex and America Movil telephone operators.
TOO BIG TO FAIL
Similar to the U.S. government's concerns about financial institutions too big to fail, Mexican authorities may decide that Cemex is too big to be allowed to default on its debt, some analysts have said.
A default by Cemex would hit Mexican pension funds that hold its debt, drive up financing costs for other Mexican companies and could pressure the already battered peso, which hit a 16-year low earlier this month.
Speculation that the government will not let Cemex fail has pushed Cemex's stock up more than 50 percent since March 9.
"The magnitude of Cemex's debt is material for the Mexican economy," said a report from Actinver brokerage. "Excluding trade-related debt, Cemex's debt accounts for approximately 30 percent of loans to the Mexican private sector."
Cemex has warned that its revolving credit facilities are fully drawn and that if its operating results worsen or if it is doesn't complete planned asset sales, it may not be able to comply with payments.
Earlier this month, Cemex canceled its traditional quarterly results forecast, dampening expectations that the company would overcome its problems.
The cost of insuring Cemex's 5-year, dollar-denominated debt has increased by 6 percent since March 9 and is near an all-time high, illustrating concern among debt market investors.
UBS predicted in a report this week that Mexico's central bank would soon likely tap a $30 billion swap line with the U.S. Federal Reserve and then could lend money to a government-owned bank, which could then bail out Cemex.
Cemex shares edged up 0.11 percent to 9.25 pesos on Friday.
"There is still a very strong rumor that the government wants to step in and rescue the company," one trader told Reuters.
