Fitch rates Mattel notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Mattel Inc.'s $250 million 10-year and $250 million 30-year senior unsecured notes due 2020 and 2040, respectively. The company has a long-term issuer default rating of BBB+, short-term issuer default rating of F2, commercial paper rating of F2, $1.08 billion revolving credit facility rated BBB+ and a senior unsecured notes and debentures rating of BBB+.

The proceeds will be used to refinance $250 million of debt maturing in 2011, which includes a 6.125% $200 million senior note due on June 15, 2011. The remainder will be used for general corporate purposes.

The outlook is stable.

The company's leverage is low, even with the temporary addition of debt, at about $1.2 billion on a pro forma basis, the agency said.

And Mattel's liquidity is strong, Fitch added.

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