We are assigning our 'AA' corporate credit rating and 'A-1+' short-term corporate credit rating to Alphabet Inc., the parent company of Google Inc., a global technology company that generates the majority of its revenues from search and display advertising. We are also assigning our 'A-1+' short-term rating to Alphabet's proposed $5 billion commercial paper program. Furthermore, we are affirming our 'AA' corporate credit rating and 'A-1+' short-term corporate credit rating on Google Inc., a wholly-owned subsidiary of Alphabet, and subsequently withdrawing the ratings at the issuer's request. The stable outlook on Alphabet reflects our expectation that the company will sustain its leadership position in the online search and display advertising market, and maintain its capital allocation practice in funding product
