March 16, 2012
Gruma has seen its ratings raised to BB from BB minus by Standard & Poor’s,
Gruma has seen its ratings raised to BB from BB minus by Standard & Poor’s, which notes the Mexican tortilla maker is exercising caution in its financial strategy and risk management. The company is expected to be working toward lower leverage and careful corporate governance, according to S&P. The outlook is stable. In February, Gruma named Joel Suarez Aldana, previously the head of the Gruma Corporacion subsidiary, as CEO. He replaced Raul Pelaez, who resigned in August.