Grupo Bimbo 'BBB' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion - S&P Global Ratings’ Credit Research

Grupo Bimbo 'BBB' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion

Grupo Bimbo 'BBB' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion - S&P Global Ratings’ Credit Research
Grupo Bimbo 'BBB' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion
Published Jul 12, 2011
1292 words — Published Jul 12, 2011
Price US$ 150.00  |  Buy this Report Now

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Abstract:

On Nov. 9, 2010, Bimbo announced an agreement to acquire Sara Lee's fresh bakery business for $959 million, in a transaction we expect will complete in third-quarter 2011. We are affirming our ratings, including the 'BBB' global scale and 'mxAA+' national scale corporate credit ratings, on Bimbo and removing the ratings from CreditWatch, where we placed them with negative implications at the time of the announcement. The outlook is negative. We view the company's debt as being higher than we expected amid its acquisitive growth strategy, and we are concerned that its deleveraging could take longer than we had anticipated. MEXICO CITY (Standard&Poor's) July 12, 2011--Standard&Poor's Ratings Services said today that it affirmed its ratings, including

  
Brief Excerpt:

RESEARCH Grupo Bimbo '###' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion Publication date: 12-Jul-2011 Primary Credit Analyst: Laura Martinez, Mexico City (52) 55-5081-4425;...

  
Report Type:

Ratings Action

Ticker
BIMBO@MM
Issuer
Grupo Bimbo S.A.B. de C.V.
GICS
Packaged Foods & Meats (30202030)
Sector
Global Issuers, Structured Finance
Country
Mexico
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Grupo Bimbo 'BBB' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion" Jul 12, 2011. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Grupo-Bimbo-BBB-Corporate-Credit-Rating-Affirmed-Taken-Off-CreditWatch-As-Purchase-Of-Sara-Lee-NAFB-Nears-Completion-878477>
  
APA:
S&P Global Ratings’ Credit Research. (). Grupo Bimbo 'BBB' Corporate Credit Rating Affirmed, Taken Off CreditWatch, As Purchase Of Sara Lee NAFB Nears Completion Jul 12, 2011. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Grupo-Bimbo-BBB-Corporate-Credit-Rating-Affirmed-Taken-Off-CreditWatch-As-Purchase-Of-Sara-Lee-NAFB-Nears-Completion-878477>
  
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