Fitch gives Bimbo Bakeries notes BBB

Fitch Ratings said it gave a BBB rating to Bimbo Bakeries USA, Inc.’s planned offering up to $600 million of senior unsecured notes due in 2051. The notes will be guaranteed by its parent company Grupo Bimbo, SAB de CV and the parent's subsidiaries Bimbo, SA de CV and Barcel, SA de CV.

“The rating of the proposed senior notes reflects the credit profile of its parent company Bimbo,” Fitch said in a press release.

The proceeds will be used to repay in full the outstanding debt under Bimbo's syndicated revolving credit facility.

The outlook is stable.

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