Bulletin: Bimbo Ratings Not Immediately Affected By Potential Acquisition Of Panrico

MEXICO CITY (Standard&Poor's) June 22, 2015--Standard&Poor's Ratings Services said today that its ratings and outlook on Grupo Bimbo S.A.B. de C.V. (BBB/Stable/--) are not immediately affected following the company's announcement of a preliminary agreement to acquire a 100% stake of Panrico S.A.U. excluding its branded packaged bread unit. The closing of the transaction is subject to the result of due diligence, a final acquisition agreement, and the regulatory approvals. We don't believe that the potential completion of this transaction would have a significant impact on Bimbo's business or financial risk profiles. However, we will continue to monitor Bimbo's deleveraging strategy and financial policy. This should bring its credit metrics more in line with its "intermediate" financial

...MEXICO CITY (Standard & Poor's) June 22, 2015--Standard & Poor's Ratings Services said today that its ratings and outlook on Grupo Bimbo S.A.B. de C.V. (###/Stable/--) are not immediately affected following the company's announcement of a preliminary agreement to acquire a 100% stake of Panrico S.A.U. excluding its branded packaged bread unit. The closing of the transaction is subject to the result of due diligence, a final acquisition agreement, and the regulatory approvals. We don't believe that the potential completion of this transaction would have a significant impact on Bimbo's business or financial risk profiles. However, we will continue to monitor Bimbo's deleveraging strategy and financial policy. This should bring its credit metrics more in line with its "intermediate" financial risk profile, specifically reaching debt to EBITDA below 3.0x by 2016. Under Standard & Poor's policies, only a Rating Committee can determine a Credit Rating Action (including a Credit Rating change,...

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