Mexico-based baking company Bimbo's commitment to debt reduction and integrating its recent acquisitions should lead to a gradual improvement of its key financial metrics. We are revising the outlook to stable from negative and affirming our 'BBB' global scale and 'mxAA+' national scale ratings on Bimbo. The stable outlook reflects our expectation that Bimbo will successfully integrate the recent acquisitions, reach the expected synergies in the next two years, and continue to reduce its debt levels through internal cash flow generation. On June 19, 2012, Standard&Poor's Ratings Services revised the outlook on Grupo Bimbo S.A.B. de C.V. to stable from negative. At the same time, we affirmed our ratings on the company, including the 'BBB' global scale and
