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Moody's rates Bimbo notes Baa2
Moody's Investors Service said it assigned a Baa2 rating to Bimbo Bakeries USA, Inc.'s planned senior unsecured notes. Grupo Bimbo, SAB de CV's ratings including its Baa2 issuer rating remain unchanged.
The notes will be guaranteed on a senior basis by its parent company Grupo Bimbo and by Grupo Bimbo's operating subsidiaries Bimbo, SA de CV and Barcel, SA de CV.
The proceeds be used for liability management through the repayment of debt at Grupo Bimbo and will not hurt the company's debt protection metrics.
The outlook is stable.
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