(Source: Fitch Inc) 05 Nov 2015 3:34 PM GMT/UTC Fitch Ratings-New York-05 November 2015: Fitch Ratings has upgraded the Issuer Default Rating (IDR) for Levi Strauss & Co. (Levi) to 'BB' from 'BB-'. In addition, Fitch has upgraded the ratings on Levi's secured bank credit facility to 'BBB-/RR1' from 'BB+/RR1' and senior unsecured notes to 'BB/RR4' from 'BB-/RR4'. The Rating Outlook is Positive. Levi had $1.2 billion of debt outstanding as of Aug. 30, 2015. KEY RATING DRIVERS The upgrade reflects Levi's continued EBITDA growth and Fitch's increased comfort in the company's ability to drive low- to mid-single digit EBITDA growth over the next 24-36 months. Fitch expects leverage to remain in...
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