...NEW YORK (S&P Global Ratings) July 12, 2017--S&P Global Ratings today assigned its '##+' issue-level rating to Mountain View, Calif.-based global technology company Alphabet Inc.'s $4 billion revolving credit facility expiring Feb. 12, 2021. The company previously used the $4 billion revolving credit facility as a backup for its $5 billion commercial paper program (which we rate 'A-1+'). Going forward, the company's available cash and investments will support the $5 billion commercial paper program. Our corporate credit rating on Alphabet remains '##+' with a stable outlook, and reflects the company's leading position in the desktop and mobile search advertising markets, robust technology and user data, and intellectual and financial capital that allows the company to exploit new business opportunities and defend its position against new entrants and existing competition. We expect that the company to continue to generate strong free operating cash flow, which was about $27.7 billion for...
