date:Jan 17, 2013
nty around the timing and amount of earnings that would be generated from the distressed assets being purchased, Moodys said. In addition, Moodys anticipates that the competitive auction process that soon will follow could lead Flowers to raise its bid.
The Hostess transactions are subject to a competitive auction process and approval from the Hostess bankruptcy court.
While acknowledging a strong Flowers strong balance sheet, Moodys said the proposed transaction likely will double the company