Moody's assigns Baa2 to Flowers' $400 million unsecured notes offering
Rating Action: Moody's assigns Baa2 to Flowers' $400 million unsecured notes offering. Global Credit Research- 02 Mar 2021. New York, March 02, 2021-- Moody's Investors Service, Inc. has assigned a Baa2 rating to proposed $400 million 10- year senior unsecured notes due 2031 being offered today by Flowers Foods, Inc..Flowers Foods produces a range of breads, buns, rolls, snack cakes, and tortillas and is a producer and marketer of packaged bakery foods in the United States. The company also sells returned and surplus product through a system of thrift stores. The company supplies national and regional restaurants, institutions and foodservice distributors, and retail in-store bakeries with breads and rolls; sells packaged bakery products to wholesale distributors for sale to a variety of food outlets; and sells packaged snack cakes primarily to customers who distribute them nationwide through various channels of distribution, including merchandisers, supermarkets, vending outlets and convenience stores.
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