...NEW YORK (Standard & Poor's) Oct. 24, 2001--Standard & Poor's today revised its outlook on Amazon.com to negative from stable. At the same time, Standard & Poor's affirmed its single-'B' corporate credit and senior unsecured debt ratings and its triple-'C'-plus subordinated debt rating on the company. The outlook revision is based on Standard & Poor's concern about Amazon's decelerating revenue growth, which makes reversing its historical operating losses much more challenging. In addition, the company's cash position is declining. On a year-over-year basis, Amazon.com reported flat sales in the third quarter of 2001 after only generating 15% revenue growth in the second quarter and 22% in the first quarter, and it has also lowered its guidance for fourth quarter growth. The company's sales grew 68% in 2000 and 169% in 1999. Amazon.com also announced that it expects to have only $550 million of cash and marketable securities at March 31, 2002, which is below Standard & Poor's expectations...
