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Fitch puts Hasbro on watch
Fitch Ratings said it put all of Hasbro Inc.’s ratings on negative watch after the company announced its plans to acquire Entertainment One Ltd. for about $4 billion through a partially debt-funded transaction.
“Closing pro forma total adjusted leverage is projected around 4.5x, if Hasbro funds the transaction with $1 billion to $1.25 billion of equity and approximately $3 billion of debt. This compares to Hasbro's recent average adjusted leverage in the low-2.0x, prior to Toys R Us-related EBITDA challenges in 2018,” said Fitch in a press release.
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