Fitch affirms Mattel

Fitch Ratings said it affirmed Mattel, Inc.'s issuer default rating, unsecured bank facility and senior notes at BBB and its short-term issuer default rating and commercial paper program at F2.

The outlook remains positive.

The agency said the ratings on Mattel reflect its leading position in the traditional toy industry, large-scale and broad product portfolio, high levels of liquidity and low leverage.

The ratings also incorporate the pressure from the challenging economic environment and factors inherent in the toy industry such as low barriers to entry; fashion risk; customer concentration to Wal-Mart, Toys 'R' Us and Target; age compression; declining-to-flat domestic industry revenues; and high levels of seasonality, Fitch said.

The positive outlook considers the company's strong credit metrics and liquidity, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.