Fitch assigns BBB+ to Bimbo notes

Fitch Ratings said it assigned a BBB+ rating to Bimbo Bakeries USA, Inc.'s benchmark-size dual-tranche senior unsecured notes due in 2029 and 2036. The notes will be guaranteed by its parent company Grupo Bimbo, SAB de CV, rated BBB+, and the parent's subsidiaries Bimbo, SA de CV and Barcel, SA de CV

The rating is consistent with Fitch’s ratings on Bimbo Bakeries USA’s outstanding senior unsecured notes.

Bimbo will use the proceeds for general corporate purposes, including strategic investments, refinancing, repurchases, redemption, repayment of debt, including 2024 notes, capital expenditures and working capital.

The outlook is stable.

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