Fitch applies BBB+ to Hasbro notes

Fitch Ratings said it assigned a BBB+ rating to Hasbro Inc.’s newly issued $500 million 10-year senior unsecured notes due September 2027.

The notes will rank equally with all of Hasbro's present and future unsecured, and unsubordinated debt.

Proceeds will be used to refinance Hasbro's $350 million 6.3% note maturing Sept. 15, 2017 and for general corporate purposes.

The outlook is stable.

Fitch said the ratings reflect Hasbro's scale with annual revenue of $5 billion and EBITDA of $1 billion in 2016, and as one of the top three companies in the toy industry when ranked by revenue.

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