S&P: Grupo Bimbo view up to stable

Standard & Poor's said it revised the outlook on Grupo Bimbo SAB de CV to stable from negative, and affirmed the BBB long-term corporate credit rating.

The outlook revision reflects Bimbo's adequate operating results during 2009 and the first quarter of 2010, supported by the successful integration of Weston Foods Inc.'s U.S. fresh bakery business last year, S&P said.

This has allowed Bimbo gradually to deleverage its capital structure using its internally generated funds, the agency said.

The rating reflects its strong market position in the United States and leading market position in Mexico's packaged-bread baking industry, geographic and product diversification and ability to maintain its profit margins under adverse economic conditions, S&P said.

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