Fitch affirms Levi Strauss

Fitch Ratings said it affirmed Levi Strauss & Co.'s issuer default rating at BB-, $750 million bank credit facility at BB+, senior unsecured notes at BB- and senior unsecured term loan at BB-.

The outlook is stable.

Ratings reflect good liquidity and minimal debt maturities coupled with its strong shares in key markets, well-known brands names and wide geographic diversity, the agency said.

Ratings also consider the challenging economic environment and discretionary nature of the company's product offering which have hurt volume growth this year, the agency noted.

Total debt-to-EBITDA ratio fell to 3 times for the 12 months ended Aug. 24.

© 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.