S&P rates Flowers notes BBB-

Standard & Poor's said it affirmed at BBB- its corporate credit rating on Flowers Foods Inc. following the company's announcement that it plans to issue $400 million of senior unsecured notes.

At the same time, S&P assigned a BBB- issue-level rating to the proposed $400 million senior unsecured notes due 2022. The outlook is stable.

"The affirmation reflects our belief that Flowers Foods' credit measures will remain indicative of those for an 'intermediate' financial risk profile despite the increase in long-term debt," said S&P credit analyst Stephanie Harter in a news release.

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