Hasbro aims for 2x to 2.5x leverage ratio within the next four years

By Devika Patel

Knoxville, Tenn., June 15 – Hasbro, Inc. plans to pay down its debt with the goal of reaching a leverage ratio between 2x and 2.5x within the next few years.

“We are looking at paying down the debt that we had in place and our goal is to get back to our leverage ratios of 2x to 2.5x within the next three to four years,” executive vice president and chief financial officer Deborah M. Thomas said at the Nasdaq 42nd Investor Conference on Monday.

“That leverage ratio is a good ratio for us to continue investing in the business,” Thomas said.

While the company did experience some decreases in demand due to the Covid-19 pandemic, the company had good liquidity at the beginning of the pandemic and management expects to record a good year with a good holiday period for 2020.

“We started out with excellent liquidity [at the beginning of the Covid-19 pandemic], and we’ve got sufficient liquidity,” Thomas said.

“We do expect to have a very good and very solid full year with a very good holiday period,” chairman and chief executive officer Brian D. Goldner said at the conference.

The toy and game company is based in Pawtucket, R.I.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.