Moody's affirms Levi Strauss

Moody's Investors Service said it affirmed Levi Strauss & Co.'s corporate family & probability of default ratings at B1 and also continued its positive outlook on the company's ratings.

Levi Strauss' B1 rating reflects the company's strong market position in the highly competitive denim and casual slacks categories and its high financial leverage, the agency said, noting that the current ratings also incorporate expectations that the company is likely to face challenging economic conditions in the United States and overseas due to weakness in consumer spending.

The company's large retailer customers are expecting weakness in sales and this is likely to impact Levi Strauss' performance in the near term.

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