Fitch assigns Bimbo Bakeries notes BBB+

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 2034. 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 ratings on the notes reflect Grupo Bimbo’s issuer rating as the guarantor, Fitch said.

The proceeds will be used to repay indebtedness of the issuer and the parent, including portions of the syndicated revolving credit facility and repurchase of the parent's dollar-denominated senior notes outstanding due in 2024.

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