...August 6, 2026 NEW YORK (S&P Global Ratings) August 6, 2026--S&P Global Ratings today assigned its `##+' issue-level rating to Alphabet Inc.'s proposed U.S. dollar-denominated senior unsecured notes. The company intends to use proceeds from these notes for general corporate purposes, which may include repayment of 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. As of June 30, 2026, Alphabet had $162.5 billion of cash equivalents and marketable securities and $101.1 billion of debt, excluding the proposed debt issuance. S&P Global Ratings-adjusted leverage as of June 30, 2026, was 0.0x, and we estimate Alphabet has capacity to increase net debt by $200 billion (not including this proposed debt issuance)...
