On Feb. 12, 2014, Mexico-based bakery company Bimbo announced that it reached an agreement to acquire all of the common shares of Canada Bread for C$1.83 billion. We are affirming our ratings on the company, including the 'BBB' global scale and 'mxAA+' national scale corporate credit ratings. The stable outlook reflects our view that despite the additional debt to finance the acquisition, Bimbo will rapidly reduce its debt during our 2014-2015 rating forecast period. We also believe the company's business risk profile will benefit from the consolidation of Canada Bread. MEXICO CITY (Standard&Poor's) Feb. 14, 2014--Standard&Poor's Ratings Services affirmed its 'BBB' global scale and 'mxAA+' national scale corporate credit and debt ratings on Grupo Bimbo, S.A.B.
