Moody's: Bimbo outlook stable

Moody's Investors Service said it revised the outlook for Grupo Bimbo, SAB de CV to stable from negative and affirmed Bimbo's senior unsecured Baa2 and Aa2.mx ratings.

"The outlook change mainly reflects Bimbo's solid positive cash flow in the past several quarters, which has allowed the company to reduce near-term refinancing risks," Sebastian Hofmeister, a vice president at Moody's , said in a statement.

The outlook revision also reflects Bimbo's improved credit metrics and Moody's expectation that the company will continue to de-lever its balance sheet over the near to medium term, the analyst added.

For the 12 months ended Sept. 30, adjusted debt-to-EBITDA ratio was 3.1 times.

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