S&P upgrades Hasbro

Standard & Poor's said it raised Hasbro Inc.'s corporate credit rating to BBB from BBB- and removed it from CreditWatch, where it was placed with positive implications on July 24.

The outlook is stable.

The agency said the upgrade reflects Hasbro's improving operating performance, stemming from greater success with its core toy lines, successful product licensing, lower fixed costs and the maintenance of low debt leverage.

The ratings on Hasbro continue to reflect the company's strong competitive position in the toy industry, good product-line and geographic diversity and a moderate capital structure, S&P added.

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