Fitch rates Gruma bonds BBB-

Fitch Ratings said it assigned a foreign currency rating of BBB- to up to $300 million of perpetual bonds to be issued by Gruma SA de CV.

Proceeds will be used to repay Gruma's $250 million senior notes due 2007 and for corporate purposes. The outlook is stable.

Fitch said the ratings are supported by the company's solid business profile as one of the leading producers of corn flour and tortillas in the United States and corn flour in Mexico, Central America and Venezuela.

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