Moody’s rates Bimbo notes Baa2

Moody’s Investors Service said it rated Grupo Bimbo, SAB de CV’s proposed $500 million 30-year senior unsecured global notes Baa2. The outlook is stable.

Operating subsidiaries that account for 87% of the group’s consolidated EBITDA will guarantee the notes.

Proceeds will be used to refinance a portion of Bimbo’s $800 million of senior notes due 2020.

The Baa2 rating is supported by Bimbo’s position as the world largest baked goods company with an experienced management team and prudent financial policies.

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