S&P revises Bimbo view to stable

S&P said it revised the outlook for Grupo Bimbo SAB de CV to stable from negative.

“The stable outlook reflects our expectation that Bimbo’s adjusted leverage will remain around 3x in the next two years. Amid the Covid-19 pandemic and expected global recession in 2020, we expect Bimbo to deliver solid results thanks to its resilient business position,” S&P said in a press release.

The agency affirmed its long-term BBB global and mxAA+ national scale ratings on Bimbo and its global and local senior unsecured notes. Also, S&P affirmed the BB+ issue-level rating on Bimbo’s subordinated perpetual notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.