Fitch affirms Hasbro

Fitch Ratings said it affirmed all of Hasbro Inc.'s ratings, including its issuer default rating at BBB+.

The outlook is stable.

Fitch said the rating and outlook reflect the company’s position as one of the largest companies in the roughly $90 billion global toy industry, with 2017 revenue of $5.2 billion, similar to other leading players including the Lego Group, Bandai Namco Holdings and Mattel, Inc. (B+/negative), each of which have around $5 billion-$5.5 billion in annual revenue.

Hasbro's rating reflects its relatively stable revenue and EBITDA growth in recent years, positive FCF generation, and leverage trending around 2, the agency added.

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