Standard&Poor's Ratings Services' ratings on Grupo Bimbo S.A.B. de C.V. (Bimbo) reflect the firm's strengthened market position in the U.S. and leading position in Mexico's packaged bread industry, as well as its geographic and product diversification, and ability to maintain profit margins under adverse economic conditions. The ratings also reflect the company's low sales volume growth--mostly in its Mexican operations--and the highly competitive fresh baked goods industry in the U.S. We view Bimbo's business risk profile as satisfactory, considering its strong presence in the packaged bread business in Mexico and other Latin American countries, and its enhanced presence in the U.S. through the recent acquisition of Weston Foods Inc.'s (WFI) fresh bakery business, as well as Bimbo's strong
