Moody’s rates Hasbro notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to $2.375 billion of senior unsecured notes issued by Hasbro, Inc. in multiple tranches of three-, five-, seven- and 10-year maturities.

Other ratings, including the company's Baa3 senior unsecured rating remain unchanged.

“Hasbro's Baa3 rating is based on its solid market position, strong brands, broad and growing geographic diversification. It also reflects the company's progress in adapting its portfolio to children's changing play patterns. However, leverage will be elevated following its acquisition of Entertainment One Ltd. The acquisition will result in a pro forma closing leverage of about 5 times,” said Moody’s in a press release.

Proceeds will be used primarily for acquiring Entertainment One Ltd.

The outlook remains stable.

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