Moody's rates Hasbro commercial paper Prime-2

Moody's Investors Service said it assigned a Prime-2 rating to Hasbro, Inc.'s $500 million commercial paper program and affirmed the company's Baa2 long-term ratings.

The outlook for the long-term rating was changed to stable from positive, following the company's announcement of full-year results, Moody's said.

Hasbro's Baa2 rating is based on its solid market position, portfolio of strong brands, broad geographic diversification, conservative balance sheet and strong credit metrics, the agency said.

The rating considers the toy industry's profound seasonality, inherent volatility due to fashion risk, the company's limited size and segment diversification, its modest overall organic growth prospects, its ongoing investment in television programming and its ongoing exposure to cost increases, Moody's said.

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