Fitch affirms Flowers Foods

Fitch Ratings has affirmed Flowers Foods Inc.'s issuer default rating at BBB, $500 million revolving credit facility at BBB and $108 million term loan A at BBB.

The outlook is stable.

The ratings reflect the company's leading position in baked goods in the United States and its No.1 market share in the southern United States - its primary market, Fitch said.

The company has had consistent and considerable credit protection measures, the agency said.

Leverage has been 2.3x or less in each of the past five years, Fitch added.

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