NEW YORK (S&P Global Ratings) Sept. 13, 2016--S&P Global Ratings said today that it assigned its 'A' issue-level rating to New York-based VF Corp.'s new €850 million senior unsecured notes due 2023. We expect the company will use the proceeds to refinance its outstanding commercial paper balance, for general corporate purposes, and transaction fees and expenses. VF Corp. is the largest U.S. apparel company, with over $12 billion in revenue. The company has grown through a combination of organic growth and acquisitions, and generates approximately 30% of revenue through its e-commerce and retail stores (from near 22% in 2013), which offsets some of the risk of ongoing wholesale-channel disruption. Our rating also reflects our view that the company has good
