Fitch rates Levi's notes CCC+

Fitch Ratings said it assigned a CCC+ rating to Levi Strauss & Co.'s announced $375 million senior notes due Jan. 15, 2015. The outlook is negative.

The proceeds from the issue will be used to repay a portion of the outstanding 7% senior unsecured notes due 2006.

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

Fitch said the ratings reflect Levi's well-known brand name and good market positions, the geographic diversity of its sales base and adequate liquidity.

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