VF Corp.’s Ratings Cut by Moody’s
The ratings agency lowered VFC’s long term debt ratings to Baa2 from Baa1, and also reduced its other ratings by one notch, as it expects leverage to remain elevated over the next two fiscal years. Moody’s called out multiple headwinds to VF’s business, including underperformance from Vans, retailer destocking hurting Dickies’ sales, delays in China’s recovery, and persistently high inventory levels leading to more promotions and lower ... Log in to view full article.
