Moody’s gives Bimbo notes Baa1

Moody's Investors Service said it gave a Baa1 rating to Bimbo Bakeries USA, Inc.'s (BBU) planned backed senior unsecured global notes. The notes will be issued along with a reopening of BBU's 6.05% backed senior unsecured notes due 2029.

The agency also affirmed its ratings for parent company, Grupo Bimbo, SAB de CV's Baa1 long term issuer rating and its Baa1 senior unsecured global notes ratings as well as BBU's backed senior unsecured global notes due 2029, 2034 and 2051 were affirmed.

The proceeds will be used to fund the redemption of the company's $408 million of notes due 2024 and for general corporate purposes.

The outlook for Grupo Bimbo is maintained stable, and the outlook for BBU was changed to stable from no outlook outstanding.

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