Fitch affirms Hormel

Fitch Ratings said it affirmed the following ratings for Hormel Foods Corp.: long-term issuer default rating at A, bank facility A, senior unsecured notes A and short-term issuer default rating F1.

The outlook is stable.

The agency said that the ratings and outlook reflect Hormel's consistently low leverage, growing operating income and meaningful cash flow generation.

Hormel's strong credit profile is the result of its conservative financial strategy and its diversified portfolio of businesses, Fitch noted.

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