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S&P assigns BBB rating to Hasbro loan
S&P said it assigned a BBB rating to Hasbro Inc.’s $1 billion senior unsecured term loan facility.
The issue-level rating is on CreditWatch with negative implications along with Hasbro and its senior unsecured ratings that have been on the watch since Aug. 23, following Hasbro’s announcement about the planned acquisition of Entertainment One Ltd.
The term loan facility will contain a $400 million tranche due 2022 and a $600 million tranche due 2024.
Proceeds will finance a portion of the company’s announced acquisition of Entertainment One and the commitment is contingent upon the completion of the acquisition.
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