Fitch affirms Hasbro; outlook up to positive

Fitch Ratings said it affirmed the following ratings on Hasbro, Inc.: issuer default rating at BBB, unsecured bank facility at BBB and senior notes at BBB.

The outlook has been revised to positive from stable.

According to Fitch, Hasbro's rating reflects its leading position in the traditional toy industry with revenues of $3.8 billion, improving operating performance as shown by an EBITDA margin, which has increased steadily from 14.7% at the fiscal year ended December 2004 to 17.6% at FY07.

Hasbro's top line has some volatility related to theatrical releases although Fitch noted that core revenues are also growing.

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