S&P shifts Levi Strauss view to stable

S&P said it revised Levi Strauss & Co.’s outlook to stable from negative and affirmed its ratings, including the BB+ issuer rating.

“The outlook revision reflects our expectation that Levi will improve its credit metrics in 2021 on increased demand supported by rising consumer mobility. The sequential increase in the company's revenue, combined with our expectation that it will repay debt in the second half of the year, supports our expectation for an improvement in its leverage ratio,” S&P said in a press release.

Specifically, the agency said it projects Levi will drive its net leverage below 2x in fiscal year 2021 from 3.2x as of the 12 months ended Feb. 28.

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