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Fitch rates Hasbro notes BBB+
Fitch Ratings said it assigned a BBB+ rating to Hasbro, Inc.'s new $500 million of 30 year 6.35% notes maturing on March 15, 2040.
Management intends to use the proceeds, subject to market conditions, to effectively replace the $249.8 million convertible debenture due 2021 and retire into treasury the number of shares resulting from the potential conversion of these debentures, the agency noted.
Fitch said that Hasbro ended its 2009 fiscal year with leverage (debt/EBITDA) of 1.5 times.
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