New York, September 23, 2016 -- Moody's Investors Service, Inc. ("Moody's") assigned a Baa2 rating to Flowers Foods, Inc.'s ("Flowers") proposed $300 million 10-year notes being offered today. Moody's also assigned a (P)Baa2 rating to the related senior unsecured debt shelf. Net proceeds from the new notes will be used primarily to refinance existing term loan borrowings that totaled $369 million as of July 16, 2016. Any remaining proceeds will be used for general corporate purposes. The outlook is stable.
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