Fitch rates Hasbro notes BBB

Fitch Ratings has assigned a BBB rating to Hasbro, Inc.'s $350 million 6.3% senior unsecured notes due September 2017.

Fitch currently rates Hasbro's issuer default rating at BBB, unsecured bank facility at BBB and senior notes at BBB.

The outlook is stable.

The rating reflects Hasbro's consistent top-line and operating margins, continued improvement in operations, sizable debt reduction, strong cash flow and diverse portfolio of leading brands, Fitch said.

The rating also considers the volatile toy business, low barriers to entry, fashion risk and age compression, commodity cost pressures and seasonality as well as customer concentration in the U.S. market, the agency said.

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