Moody's affirms VF

Moody's Investors Service said it affirmed VF Corp.'s prime-2 commercial paper rating in an increased amount of $1.15 billion from $750 million.

At the same time, Moody's said it also affirmed the company's A3 senior unsecured rating.

The outlook remains stable.

VF increased the size of its commercial paper program by $400 million to accommodate the financing of its recently announced acquisitions of Seven For All Mankind and lucy activewear, inc., the agency noted.

Moody's said that VF's A3 senior unsecured rating is supported by significant scale, channel and segment diversity and financial metrics consistent with a single A credit profile.

© 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.