Bulletin: Alphabet Inc. Ratings Unaffected By €2.4 Billion Antitrust Fine From European Commission

NEW YORK (S&P Global Ratings) June 27, 2017--S&P Global Ratings said today that the decision by the European Commission (EC) to fine Google Inc., a wholly owned subsidiary of Alphabet Inc. (AA+/Stable/A-1+), €2.4 billion (about $2.7 billion) for violating EC antitrust rules on the abuse of its internet search market position by promoting its own comparison shopping service in its search results will not affect the ratings or outlook on the company. Google can appeal the decision to the European Court of Justice. Under the order, Google has been given 90 days to cease these practices or face further penalty by the EC. The charge follows seven years of investigation, triggered when the EC received complaints from U.S. and European

...NEW YORK (S&P Global Ratings) June 27, 2017--S&P Global Ratings said today that the decision by the European Commission (EC) to fine Google Inc., a wholly owned subsidiary of Alphabet Inc. (##+/Stable/A-1+), 2.4 billion (about $2.7 billion) for violating EC antitrust rules on the abuse of its internet search market position by promoting its own comparison shopping service in its search results will not affect the ratings or outlook on the company. Google can appeal the decision to the European Court of Justice. Under the order, Google has been given 90 days to cease these practices or face further penalty by the EC. The charge follows seven years of investigation, triggered when the EC received complaints from U.S. and European competitors that claimed Google abused its market position by giving its comparison shopping services an advantage over others'. Alphabet's strong financial profile, with cash and marketable securities of $92.4 billion as of March 31, 2017, and significant free cash...

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