Fitch: Mattel unaffected

Fitch Ratings said Mattel, Inc.'s plan to increase its previously announced share repurchase program by an additional $500 million will not affect its ratings and outlook.

Mattel has an issuer default rating of BBB, bank credit facility and senior unsecured notes rated BBB, and commercial paper rated F2.

The outlook is positive.

The program will be funded with internally generated cash flow, according to the agency.

There might be a short-term increase in debt at the end of the third quarter ending Sept. 30, but debt balances will revert to expected levels by year-end, Fitch said.

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