VF’s bill for back taxes related to its post-acquisition restructuring of Timberland 11 years ago will likely require it to take on more than $845 million in debt, the ratings agency said. Combined with a more aggressive acquisition strategy, the added leverage led S&P Global to lower the company’s outlook to negative from stable, though its A- issuer credit rating and other ratings were maintained. VFC revealed in its fiscal Q4 reporting that it had received an unfavorable ruling from the U.S. Tax Court that it should have paid tax on Timberland’s intellectual property when it transferred the IP ... Log in to view full article.