Leading position in Mexico's packaged-bread industry and a large presence in North America Strong brand recognition Significant geographic and product diversification Low, although improving, profitability margins compared with those of its peers Exposure to foreign currency exchange rates and commodity cost volatility Operations in the highly competitive U.S. fresh baked goods industry Solid cash flow generation Capacity to deleverage in a relatively short period of time Key credit ratios that are expected to be in line with an "intermediate" financial risk profile. Growth strategy through debt-financed acquisitions The stable outlook reflects our view that despite the additional debt to finance Canada Bread's acquisition, Grupo Bimbo S.A.B. de C.V. will rapidly reduce its debt during our 2014-2015 rating forecast period, in
