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Moody's gives Mattel notes at Ba2
Moody's Investors Service said it assigned a Ba2 rating to Mattel, Inc.'s new $1.2 billion guaranteed senior unsecured bonds in five- and eight-year tranches. The stable outlook and other ratings, including its Ba2 corporate family rating are unchanged.
Proceeds will be used for general corporate purposes, including refinancing other guaranteed senior unsecured debt.
“The refinancing is credit positive because it will extend maturities and reduce annual cash interest expense,” Moody’s said in a press release.
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