Research Update: Amazon.com Corporate Credit Rating Raised Two Notches To 'BBB' On Strong Performance

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from S&P Credit Research
1214 word report published Feb 13, 2009

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Abstract:

On Feb. 13, 2009, Standard&Poor's Ratings Services raised its corporate credit rating on Seattle-based Amazon.com to 'BBB' from 'BB+'. At the same time, we raised the rating on the company's unsecured debt to 'BBB-' from 'BB+'. The outlook is stable. The upgrade to an investment-grade rating reflects Amazon.com's strong brand, robust performance, and improved credit protection metrics. The company has maintained solid performance during this especially difficult retailing environment. Both top-line and EBITDA growth demonstrate this, causing us to favorably reevaluate the company's business risk and credit rating. The investment-grade ratings on Amazon.com, one of the largest e-commerce retailers, reflect the company's leading position in on-line retailing, its broad and deep merchandise offering, strong cash cushion, and above-average

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RESEARCH Ratings Definitions Research Update: Amazon.com Corporate Credit Rating Raised Two Notches To '###' On Strong Performance Publication date: 13-Feb-2009 Primary Credit Analyst: David M Kuntz, New York (1) 212-438-5022; david_m_kuntz@standardandp...

Report Type:

Research Update

Ticker:

AMZN

Issuer:

Amazon.com

GICS:

Internet Retail (25502020)

Sector:

Corporations, Global Issuers, Retail

Country:

United States

Region:

United States

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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