S&P Plans Bimbo Downgrade

S&P Plans Bimbo Downgrade

M&A

S&P says it is keeping Grupo Bimbo’s ratings on credit watch negative, following the company’s proposed $2.3bn acquisition of the US fresh bakery business of Weston Foods from Dunedin Holdings, first reported by LatinFinance December 4. The ratings were originally placed on CreditWatch with negative implications after the company’s announcement of the possible acquisition. “The downgrade will reflect Bimbo’s increased leverage and tighter liquidity because the transaction will be debt financed

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