The ratings on Greensboro, N.C.-based VF Corp. reflects Standard&Poor's Rating Services' view that the company will continue to have good market positions in outdoor and action sports and jeanswear, a portfolio of well-recognized brand names, consistently good operating performance, and diversification by distribution channel to support a "strong" business profile. We consider VF's financial risk profile to be "intermediate", reflecting our belief that the company's financial policies will remain conservative and credit metrics will continue to be in line with indicative ratios for an intermediate financial risk profile. Following the 2011 acquisition of Timberland, VF's revenues have increased to over $10 billion from about $8.5 billion prior to the transaction, solidifying its position as the largest rated U.S.
