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Prospect News home > News index > List of issuers G > Headlines for Grupo Bimbo, SAB de CV > News item |
S&P rates Bimbo notes BBB+
S&P said it assigned its BBB+ issue-level rating to Bimbo Bakeries USA Inc.'s planned senior unsecured notes with a 12-year tenor.
Bimbo Bakeries USA is a subsidiary of Grupo Bimbo SAB de CV, which along with subsidiaries Bimbo SA de CV and Barcel SA de CV will guarantee the notes. The agency rates Grupo Bimbo BBB+. It does not rate the subsidiaries. Additionally, the group is looking to upsize its senior unsecured notes due 2029, which are also rated BBB+.
The group plans to use the proceeds and the upsize mostly for general corporate purposes, including refinancing debt, capital expenditures, strategic investments and working capital, resulting in little deviations.
The outlook is stable.
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