* Cemex says extends most short-term debt maturities

* CEO says debt deal could be reached soon

* Sees U.S. market recovery by 2010 (Adds analyst comment)

By Robin Emmott and Gabriela Lopez

MONTERREY, Mexico, April 23 (Reuters) - Cemex said on Thursday it has agreed with creditors to extend the majority of its short-term maturities, a sign that the world's No. 3 cement maker is advancing in its difficult debt renegotiation.

Cemex, which bought Australia's Rinker in 2007, has been struggling to refinance $14.5 billion in bank debt due over the next three years, $4.1 billion of which is matures this year.

Some investors worry Cemex could default on its debt as its U.S, and European cement sales volumes plummet, a bond sale flopped this year and planned asset sales have not materialized.

Chief Executive Lorenzo Zambrano, who said he wasn't losing any sleep over the company's debt load, told Cemex's (CX.N: Quote, Profile, Research) (CMXCPO.MX: Quote, Profile, Research) annual shareholders meeting the company was meeting its debt payments and saw an improvement in U.S. sales next year.

"We started a new series of talks with our main banks in March....We managed to defer most of the short-term debt," Zambrano said during the meeting in the northern city of Monterrey. "We expect to reach a final agreement soon."