S&P rates VF notes A-

Standard & Poor's said it assigned an A- senior unsecured debt rating to VF Corp.'s proposed $500 million of unsecured notes, expected to be issued in two tranches, and affirmed the issuer's A- corporate credit rating.

The outlook is stable.

Proceeds will be used to repay debt under the company's bridge loan, which helped finance the acquisition of Seven for All Mankind LLC and lucy activewear inc.

The rating reflects the company's strong market share in jeanswear, its portfolio of leading brand names, its solid cash flow and its experienced management team, S&P said.

These factors are offset by the highly competitive and volatile apparel industry and the integration risks related to its vigorous acquisition strategy of procuring brands that expand its lifestyle segment, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.