Netflix Inc.'s Senior Unsecured Notes Rated 'A'

CHICAGO (S&P Global Ratings) July 30, 2024--S&P Global Ratings today assigned its 'A' issue-level rating to Netflix Inc.'s proposed senior unsecured notes. The company plans to use the issuance to repay upcoming maturities and for general corporate purposes. The debt issuance is leverage neutral. Our 'A' issuer credit rating on Netflix is unchanged and reflects its global leadership position in streaming video and its strong revenue, earnings, and cash flow growth. Additionally, Netflix has demonstrated its ability to execute on its growth initiatives like its password sharing initiative that has resulted in strong subscriber growth for the past year, indicating its ability to navigate the evolving media ecosystem. The stable outlook reflects our expectation that Netflix will maintain its global

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