NEW YORK (Standard&Poor's) March 22, 2002--Standard&Poor's said today it lowered its local currency corporate credit rating on bread industry leader Grupo Bimbo S.A. de C.V.'s to triple-'B'-plus from single-'A'-minus due to the Mexican company's more aggressive financial policy. The local currency was removed from CreditWatch, where it was placed Jan. 22, 2002. The triple-'B'-minus foreign currency corporate credit rating was affirmed. The outlook is stable. Bimbo holds US$1.12 billion in debt. "The recent acquisition of George Weston Western operations, and the challenges involved in integrating and improving the acquired unit, including a higher percentage of total sales (approximately 30%) coming from the lower margin U.S. market resulted in a more aggressive financial profile," stated Standard&
