S&P rates Levi Strauss notes B+

Standard & Poor's said it assigned its B+ rating to Levi Strauss & Co.'s proposed $350 million senior unsecured notes due 2022.

The agency said it also assigned a 4 recovery rating to the proposed issue, indicating an expectation that lenders would receive average recovery in the event of a payment default.

S&P said the ratings on Levi Strauss reflect its view that the company's financial profile continues to be "aggressive," particularly since the company's balance sheet remains highly leveraged and the agency expects cash flow protections measures to continue to be weak.

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