S&P rates Levi Strauss notes B+

Standard & Poor's said it affirmed its B+ corporate credit rating on Levi Strauss & Co., and assigned a B+ rating to its proposed senior unsecured note offering, which will be comprised of two tranches of $460 million and €275 million. The notes were assigned a recovery rating of 4, indicating an expectation of 30% to 50% recovery in the event of a default.

The outlook is stable.

The ratings reflect the company's leveraged financial profile, participation in the highly competitive denim and casual pants market and some continued weakness in consumer spending, S&P said.

The rating also incorporates the inherent fashion risk in the apparel industry and the company's narrow business focus, the agency added.

© 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.