STOCK WATCH: S&P Boosts HASBRO with "Positive"Rating
Monday, September 15th, 2008 8:12pm CDTCategories: Press Releases, Company News, Digital Media News
Posted by: First Gen Views: 11,535
So much in fact that stock analyst company Standard and Poor's Ratings Service has upgraded the second largest toy company in the United States from a "Stable due to strong operating performance" to "Positive". HASBRO originally suffered the downgrade when BMO Capital Markets placed its shares at "overvalued".
S&P also affirmed the company's ratings, including its "BBB" corporate credit rating."BBB" is a medium-grade investment-grade rating two notches above "junk bond" status.
The S&P stated that this move was made based on HASBRO's "increased discretionary cash flow and low debt leverage".
If you've just read all that and still aren't sure what to make of it, basically it means that HASBRO has taken a step back up in value despite the increase potential of a full scale recession. This is credited to the companies ability to cut back on unnecessary spending and the small price increase that will affect mid dollar range products that we reported here.
To view the complete article on this, click here.
Credit(s): Standard & Poor Ratings Services