V.F. Corporation was downgraded to high yield status by S&P Global Ratings in September 2024. This action ended a seven-month drought of 'fallen angels' entering the high-yield index.
The downgrade added approximately $2.4 billion in face value to the high-yield index. This reclassification indicates increased credit risk associated with the company's debt.
A high-yield rating can lead to higher borrowing costs for VFC and may limit its access to certain capital markets, impacting its financial strategy and flexibility.
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