Grupo Bimbo 'BBB+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition - S&P Global Ratings’ Credit Research

Grupo Bimbo 'BBB+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition

Grupo Bimbo 'BBB+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition - S&P Global Ratings’ Credit Research
Grupo Bimbo 'BBB+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition
Published Dec 22, 2008
778 words — Published Dec 22, 2008
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

MEXICO CITY (Standard&Poor's) Dec. 22, 2008--Standard&Poor's Ratings Services said today that its ratings on Grupo Bimbo S.A.B. de C.V., including the 'BBB+' global scale and 'mxAAA' CaVal (Mexico) national scale corporate credit ratings, remained on CreditWatch with negative implications. We will lower the ratings by one notch when shareholders and regulatory authorities approve the company's acquisition of the U.S. operations of a Canadian bakery business. Once the transaction closes, we will remove the ratings on Bimbo from CreditWatch and lower the global and national scale corporate credit ratings to 'BBB' from 'BBB+' and 'mxAA+' from 'mxAAA', respectively. The outlooks will be negative. The ratings were originally placed on CreditWatch with negative implications on Dec. 4, 2008,

  
Brief Excerpt:

RESEARCH Grupo Bimbo '###+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition Publication date: 22-Dec-2008 Primary Credit Analyst: Enrique Gomez Tagle, CFA, Mexico City (52) 55-5081-4407; enrique_gomeztagle@standardandpoors.co...

  
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+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition" Dec 22, 2008. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Grupo-Bimbo-BBB-Rating-Stays-On-Watch-Negative-Downgrade-To-Follow-U-S-Assets-Acquisition-692544>
  
APA:
S&P Global Ratings’ Credit Research. (). Grupo Bimbo 'BBB+' Rating Stays On Watch Negative; Downgrade To Follow U.S. Assets Acquisition Dec 22, 2008. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Grupo-Bimbo-BBB-Rating-Stays-On-Watch-Negative-Downgrade-To-Follow-U-S-Assets-Acquisition-692544>
  
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