Strengthened market position in the U.S.; Position as the leading packaged-bread baking company in Mexico; Geographic and product diversification; and Resilient profit margins. High leverage for its rating category. The 'BBB' rating on Grupo Bimbo S.A.B. de C.V. reflects its strengthened market position in the U.S. and leading position in Mexico's packaged-bread baking industry, geographic and product diversification, and ability to maintain its profit margins under adverse economic conditions. The ratings also reflect the company's increased leverage resulting from a recent large, debt-financed acquisition. Bimbo reported sales of $6.5 billion for the 12 months ended June 30, 2009, making it the largest baking company in the world as measured by production and sales volumes. Adding to its business in bread
