MEXICO: Mexico's Cemex hits 13-year low, debt worries weigh

Shares of Mexican cement maker Cemex fell to a 13-year low on Tuesday on concerns about slowing growth in Europe and the United States will hobble the company's ability to meet its debt obligations.

One of the world's biggest cement makers, Cemex almost defaulted in 2009 on $15 billion in debt used to fund its purchase of rival Rinker, but it negotiated a refinancing deal.

Now, steep losses in the Mexican currency and expectations of slowing growth in its main markets, the United States and Europe, are raising the chance that Cemex could fail to meet targets with creditors to boost its cash flow.

"This downturn in global markets is really complicating their situation," said Gerardo Roman, head of stock trading at brokerage Actinver in Mexico City.

"All the heavily indebted companies are getting hit, and they are going to keep getting hit," Roman said.

Cemex shares (CMXCPO.MX) fell 10 percent to 3.36 pesos. The stock has shed more than 46 percent since mid-September.