NY -- Standard&Poor's CreditWire 2/2/96 -- Standard&Poor's assigns its single-`A'-minus local currency rating to Grupo Industrial Bimbo S.A. de C.V. (Gibsa). The rating reflects the company's leading position in the highly fragmented but, consolidating bread industry in Mexico. This market is expected to see high demand growth as the Mexican population is anticipated to increase significantly over the next decade. Gibsa's strong market share gains are attributable in part to the company's extensive distribution system, which also acts as a barrier to entry. The rating incorporates Gibsa's strong financial profile based on its low-cost position and conservative financial management. In Mexico, Gibsa is the largest producer of packaged bread products as well as a significant participant
