Product portfolio and distribution channel diversity; One of the leading players in the jeanswear market; Solid cash flow; A moderate financial policy; and An experienced management team. Participation in the highly competitive and cyclical apparel industry; Fashion risk; Some softness in credit metrics; and The company is acquisitive and there is the associated risk of integration. The rating on Greensboro, N.C.-based apparel manufacturer VF Corp. reflects the company's strong market share in jeanswear; its portfolio of well-recognized brand names that include The North Face, Nautica, Lee, and Wrangler; distribution channel diversity; its solid cash flow; and its experienced management team. Offsetting these factors, to an extent, are VF's participation in the highly competitive and volatile apparel industry, some softness in
