JD.com Inc. Outlook Revised To Positive On Improving Operating Performance And Cash Flows; 'BBB-' Rating Affirmed

We expect JD's competitive position to improve as the company boosts its online sales and enhances its product and service offerings over the next 12-24 months. We are revising our rating outlook on the China-based online direct sales retailer to positive from stable. We are affirming our 'BBB-' long-term corporate credit rating on JD and our 'BBB-' long-term issue rating on the company's senior unsecured notes. The positive outlook on JD reflects the company's better- operating performance than we expected, and our expectation that JD will maintain its good business growth, increase market share, stabilize profitability, and improve cash flows over the next 12-24 months. We also expect JD to maintain a net cash balance over the period. HONG KONG

...+ We expect JD's competitive position to improve as the company boosts its online sales and enhances its product and service offerings over the next 12-24 months. + We are revising our rating outlook on the China-based online direct sales retailer to positive from stable. + We are affirming our '###-' long-term corporate credit rating on JD and our '###-' long-term issue rating on the company's senior unsecured notes. + The positive outlook on JD reflects the company's better- operating performance than we expected, and our expectation that JD will maintain its good business growth, increase market share, stabilize profitability, and improve cash flows over the next 12-24 months. We also expect JD to maintain a net cash balance over the period. HONG KONG (S&P Global Ratings) Nov. 14, 2017--S&P Global Ratings revised its outlook on China-based online retailer JD.com Inc. to positive from stable. At the same time, we affirmed our '###-' long-term corporate credit rating on JD.com and our...

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