Moody's assigns Hasbro notes Baa2

Moody's Investors Service said it assigned its Baa2 rating to Hasbro Inc.'s new $425 million five year notes.

The outlook is positive.

According to the agency, Hasbro's Baa2 rating and positive outlook are based on Hasbro's strong market positions, portfolio of strong brands, broad geographic diversification, conservative balance sheet and strong credit metrics.

These positives are offset by the toy industry's profound seasonality and inherent volatility due to fashion risk that not only reflects the sudden shifts in the popularity of certain toy products but also includes the fluid demographics such as age compression that exist for certain toy categories, the agency added.

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