...- We revised our assessment of Grupo Bimbo S.A.B. de C.V.'s (Bimbo) business risk profile to a stronger category following several years where the company successfully increased its scale of operations through sustained organic growth and acquisitions while maintaining its leading market position, expanding its geographic footprint, and improving its profitability. - We also revised Bimbo's financial risk profile to a stronger category because of the company's better financial performance in recent years and its record of a prudent policy toward the use of debt. These factors have improved credit metrics, with adjusted leverage reaching 2.0x in 2022, while liquidity remains strong. - As a result, on March 29, 2023, S&P Global Ratings raised its global scale issuer credit ratings on Bimbo to '###+' from '###' and the national scale ratings to 'mxAAA' from 'mxAA+'. At the same time, we raised our global and national scale issue-level ratings on the company's various senior unsecured notes...
