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UBS weighs in on Mattel

Published 09/21/2017, 03:11 PM
© Reuters.  UBS weighs in on Mattel
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  • UBS digs into the details of Mattel's (MAT -0.1%) new amendment to its credit agreement, which included removing a debt to consolidated EBITDA ratio requirement. The move by Mattel followed closely on the Toys "R" Us bankruptcy filing.
  • Analyst Arpine Kocharyan: "Given Mattel had to renegotiate covenants twice over the past 6 months, we believe the most recent amendment 1) reflects uncertainty from TRU Chapter 11 filing in the back half; 2) aims to leave some latitude for new CEO at Mattel to implement a reinvestment plan."
  • Mattel SEC 8-K filing
  • Now read: L Brands (NYSE:LB) Is Not Mattel


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