Fitch lifts Levi Strauss

Fitch Ratings said it upgraded Levi Strauss & Co.'s long term issuer default rating to BB+ from BB.

The outlook is stable.

“The upgrade recognizes Levi's stable performance, with accelerating growth in revenue and EBITDA in 2018, meaningful cash flow generation, and reasonable adjusted leverage (defined as adjusted debt/EBITDAR, capitalizing leases at 8x) expected to trend in the low-3.0x range,” the agency said in a news release.

“The ratings continue to reflect Levi's strong brand, market share and operating initiatives, which should collectively drive low- to mid-single digit annual EBITDA growth over the next 24-36 months.”

© 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.