Fitch: Levi unaffected

Fitch Ratings said it does not anticipate any rating implications from Levi Strauss & Co.'s announcement that it will retain the Dockers business.

Fitch rates Levi's $1.7 billion senior unsecured debt CCC+, $650 million asset-based loan B+ and its $500 million term loan B. The outlook is negative.

Levi's announcement that it will retain its Dockers business follows a five-month review of a possible sale of the business. Fitch said the possible sale of Dockers was viewed as a means to reduce debt and focus on its core Levi businesses.

Without the completion of the Dockers sale, Levi's will remain highly leveraged, with $2.0 billion of debt, and with operations that have yet to turn around, according to Fitch.

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