Moody's boosts Hasbro

Moody's Investors Service said it upgraded Hasbro, Inc.’s ratings, including the senior unsecured rating, which was upgraded to Baa2 from Baa3 and changed the outlook to stable from positive.

"Today's upgrades recognize the continued strengthening in Hasbro's quantitative profile driven by its improved operating performance, resulting in meaningful reductions in leverage," stated, Charlie O'Shea, a Moody's vice president and senior credit officer, in a press release.

"Debt/EBITDA has improved to 3.4 times at FYE2021, which is down substantially from the entertainment One acquisition-driven level of five times at FYE2020, reflective of Hasbro's focus on deleveraging as debt was reduced by around $1.1 billion year-over-year," O’Shea added.

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