CHICAGO (Standard&Poor's) Sept. 4, 2013--Standard&Poor's Ratings Services today assigned Liberty Interactive LLC's proposed $350 million exchangeable debentures due 2043 a 'BB' (at the same level as our corporate credit rating on Liberty Interactive Corp.) issue-level rating, with a recovery rating of '4', indicating our expectation for average (30% to 50%) recovery in the event of a payment default. The proposed notes will include a put/call option in year three. Liberty Interactive LLC is a subsidiary of Liberty Interactive Corp. Our 'BB' corporate credit rating on Liberty Interactive Corp. reflects our view of the consolidated entity, including QVC Inc., its principal operating subsidiary, Liberty Interactive LLC, and other subsidiaries. The rating outlook is stable. Each debenture is
