During the past 12 months, Bimbo reduced its debt levels with internally generated cash flow. We are revising the outlook to stable from negative and affirming our 'BBB' corporate credit rating. We believe that Bimbo will continue to generate sufficient cash flow to maintain its deleveraging path. On June 10, 2010, Standard&Poor's Ratings Services revised its outlook on Mexico-based Grupo Bimbo S.A.B. de C.V. (Bimbo) to stable from negative. At the same time, we affirmed the 'BBB' long-term corporate credit rating on Bimbo. The outlook revision reflects Bimbo's adequate operating results during 2009 and first-quarter 2010, supported by the successful integration Weston Foods Inc.'s (WFI) U.S. fresh bakery business last year, and relatively positive results in its Mexican
