CREDIT RATING
Credit Rating Company management is expected to maintain a B+ credit rating in Years 11-13,
an A– credit rating in Years 14- 16, and an A credit rating in Years 17-20. Each company’s credit
rating for each year is displayed below the yearly column heads. The rating letters in parentheses
just below the yearly heads are the target credit ratings you are expected to achieve each year. A
bolded credit rating for a company indicates that the company met or exceeded the investor-
expected credit rating target for the year.
IMAGE RATING
Image Rating A company’s image rating is based on (1) its branded S/Q ratings in each
geographic region, (2) its market shares for both branded and private-label footwear in each
geographic region, and (3) its efforts to demonstrate good corporate citizenship and conduct its
business in a socially responsible manner. All companies are expected to achieve an image rating
of 70 or higher in Years 11-13, 72 in Years 14-16, and 75 in Years 17-20. The image rating each
company achieved for each year is displayed below the yearly column. The number in
parentheses just below the column head represents the target image rating you are expected to
achieve each year. A bolded image rating figure for a company indicates that the company met
or exceeded the expected image rating target for the year. Current Year I.E. Score. A company
that exactly meets the investor-expected Image Rating target for a given year earns an Investor
Expectation (I.E.) Score for Image Rating for that year exactly equal to the corresponding point
weighting. Thus, if the Image Rating weight is 20 points out of 100, exactly achieving an Image
Rating target for a year produces an I.E. Score of 20. Exceeding the image rating target earns
