Moody's Ratings downgrades VF Corp.'s CFR to Ba2; outlook changes to negative
Moody's Ratings (Moody's) downgraded V.F. Corporation's (VF Corp.) corporate family rating (CFR) to Ba2 from Ba1 and its probability of default rating (PDR) to Ba2-PD from Ba1-PD. Additionally, we downgraded VF Corp.'s senior unsecured notes ratings to Ba2 from Ba1, senior unsecured shelf and senior...VF is an apparel and footwear company. The company designs, produces, procures, markets and distributes a variety of lifestyle products, including outerwear, footwear, occupational and performance apparel, jeanswear, backpacks and luggage for consumers of all ages. Products are marketed primarily under the company-owned brand names. The company's segment comprised of: Outdoor, which includes performance-based and outdoor apparel, footwear and equipment; Active, which includes active apparel, footwear and accessories; Work, which consists of work and work-inspired lifestyle apparel and footwear and occupational apparel; and Jeans, which markets denim and related casual apparel products.
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