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Mattel wins loan concessions in Toys 'R' Us bankruptcy aftermath
Add BT as a preferred sourcePublished Fri, Sep 22, 2017 · 09:50 PM
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New York
MATTEL Inc won some concessions on its US$1.6 billion credit line, just two days after Toys 'R' Us collapsed into a bankruptcy that reverberated through the retail industry.
The toymaker removed a requirement that it meet certain performance goals from the third fiscal quarter and widened a ratio allowing it to increase debt related to earnings from the quarter after that, according to a regulatory filing. It also tweaked a definition of earnings which allows it to add back certain numbers that may ultimately boost profit.
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