Hasbro Credit Reduced To Junk Bond Status By Moody's

Reuters reports that Moody's Investors Service has lowered Hasbro's credit ratings to junk status. Earlier this month Standard & Poor's also dropped its ratings for Hasbro to junk grade. As a result of its poor credit ratings, it will cost Hasbro more to raise capital, and the company has begun using bank credit lines to run its businesses. Moody's said that Hasbro is under "tremendous pressure" to turn the company around in the second half of 2001.