New York (Standard&Poor's) Aug. 17, 2011--Standard&Poor's Ratings Services said today that it assigned its 'A-' debt rating to Greensboro, N.C.-based VF Corp.'s proposed $400 million senior unsecured floating rate notes due 2013 and $500 million senior unsecured notes due 2021. The notes will be issued under the company's Rule 415 shelf registration. We expect net proceeds from this debt issuance to be used, along with cash on hand and short term borrowings, to finance the company's pending roughly $2 billion acquisition of The Timberland Company (Timberland; not rated). We expect the transaction to be completed during the third quarter of 2011; however, if the acquisition is not consummated as anticipated, the company will redeem the notes
