Grupo Bimbo S.A.B. de C.V.'s Proposed Senior Unsecured Notes Of Up To $500 Million Rated 'BBB'

MEXICO CITY (S&P Global Ratings) Sept. 3, 2019--S&P Global Ratings today assigned its 'BBB' issue-level rating to Grupo Bimbo S.A.B. de C.V.'s (Bimbo; global scale: BBB/Negative/--; national scale: mxAA+/Negative/--) proposed senior unsecured notes of up to $500 million with a 30-year maturity. Bimbo is planning to use the proceeds to partly refinance its $800 million outstanding senior unsecured notes due 2020 and extend its debt maturity profile. The rating on the notes is at the same level as the issuer credit rating, given that the proposed debt consists of senior unsecured obligations and is guaranteed by the company's main subsidiaries, which represent about 80% of consolidated EBITDA and 65% of consolidated assets as of June 30, 2019. Moreover, Bimbo's debt

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