Moody’s applies Baa1 to Hasbro notes

Moody's Investors Service said it assigned a Baa1 rating to $500 million of senior unsecured notes due 2027 issued by Hasbro, Inc.

Other ratings, including the company's Baa1 senior unsecured rating and Prime-2 short-term rating, are unchanged.

The outlook remains stable.

Net proceeds will be used to repay $350 million aggregate principal amount of 6.3% notes due September 2017 and for general corporate purpose.

Moody’s said the Baa1 rating is based on Hasbro’s solid market position, strong brands, broad and growing geographic diversification and conservative capital structure. The rating also reflects Hasbro's progress in adapting its portfolio to children's changing play patterns.

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