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Article Date: November 2023
Word Count: 191

VF Corp. Downgraded by Moody’s


The ratings service reiterated its negative outlook for the Vans and North Face parent while downgrading VF’s senior unsecured notes ratings from Baa3 to Baa2 and other issue-level ratings also by one notch. While Moody’s commended VF’s Project Reinvent bid, which includes $300 million in cost cuts and a reassessment of the brand portfolio, it noted the long lead time to translate Reinvent actions and product redesigns into P&L impact. It also noted the exposure of VF leaning on The North Face for bottom line performance, ... Log in to view full article.

 


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