Gruma arranges local debt deal

Gruma arranges local debt deal

Debt Credit Ratings S&P Global Bonds Mexico United States Capital Markets

Mexican tortilla and corn flour producer Gruma plans to issue MXN2 billion ($101 million) in local bonds to pay off a bank loan that comes due in September this year, according to a report from S&P Global Ratings. Gruma plans to price the seven-year unsecured notes with a fixed rate but without a guarantee, S&P said in the report. S&P gave the bonds an mxAA+ rating on the local scale, in line with the company's corporate ratings, it said. Gruma's business held up well during the COVI

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