& is not encoding correctly in ColdFusion

I am using "&amp" in a coldfusion variable and assigning this to another variable. And I dumped this variable but am not getting results as I expected instead it outputting as below.

<cfset x = "abdul &amp; latheef">

<cfset y = x>

<cfdump var = "#x#">

<cfdump var = "#y#">

Actual Output:

x = abdul &amp latheef

y = abdul &amp latheef

Expected Output:

x = abdul & latheef

y = abdul & latheef

Any idea about this why am getting output as I explained in Actual Output: . Timely help well appreciated.