Credits ratings firm Fitch Ratings has upgraded Levi Strauss & Co.‘s long term issuer default rating. The upgrade has the rating now at “BB+” from “BB.” The upgrade recognises Levi’s stable performance, with accelerating growth in revenue and EBITDA (earnings before interest, taxes, depreciation and amortisation) in 2018, as well a meaningful cash flow generation.
As David Silverman, the primary analyst wrote the upgrade report, Levi’s top-line has accelerated, with 8 per cent revenue growth in fiscal 2017, ended November 2017, and 11 percent growth expected in fiscal 2018. The company’s merchandising and branding efforts are bearing fruit, with strong growth across categories and geographies. Levi’s offering are trendsetting and the company is successfully exploiting opportunities to capitalize on this momentum through new product assortments, brand and celebrity collaborations, and square-footage expansion.
