New York, January 27, 2015 -- Moody's Investors Service today affirmed Mattel Inc.'s Baa1 senior unsecured ratings and P-2 short term rating and changed the outlook to negative from stable. This followed the company's announcement of weaker-than-expected fourth quarter results, details of which will be released Friday. Mattel said that it will report a 7% sales decline and a 44% drop in operating income for the year ended December 2014, as it struggled with sales declines in several of its key categories as well as lower margins. The company also announced the appointment of long-term board member Christopher Sinclair as interim CEO and Chairman in the wake of the resignation of Chairman and CEO Bryan Stockton after three years at the company's helm.

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