...May 14, 2026 NEW YORK (S&P Global Ratings) May 14, 2026--S&P Global Ratings today assigned its `##+' issue- level rating to Alphabet Inc.'s proposed Japanese yen-denominated senior unsecured notes. The company intends to use the proceeds from these notes for general corporate purposes, which may include repaying its outstanding debt. Our `##+' issuer credit rating and stable outlook on Alphabet are unchanged and continue to reflect its strong position in the online search and video advertising markets, expanding position as a cloud infrastructure provider, strong technological talent, excellent operational track record, and financial flexibility ($144 billion of cash equivalents and marketable securities and $97 billion of debt, pro forma for the May 5, 2026 Euro and Canadian debt issuances. Pro forma leverage remains at 0.0x, net of those issuances. We estimate the company has capacity to increase its net debt by nearly $180 billion (not including this proposed debt issuance) before it...
