NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the ratings for L Brands, Inc. (L Brands), including the long-term Issuer Default Rating (IDR) at 'BB+'. The Rating Outlook is Stable. A full list of rating actions follows at the end of this release. KEY RATING DRIVERS The affirmations reflect L Brands' strong brand recognition and dominant market positions in intimate apparel and personal care and beauty products, strong operating results, and solid cash flow generation that is characteris