Seattle-based retailer and technology company Amazon.com Inc. is launching a new $7 billion commercial paper program. We are assigning our 'A-1+' short-term rating to this program and a 'A-1+' short-term issuer credit rating to the company. On April 30, 2018, S&P Global Ratings assigned its 'A-1+' short-term issuer credit rating to retailer and technology company Amazon.com Inc. At the same time, we assigned our 'A-1+' short-term rating to Amazon's maximum $7 billion commercial paper program. Amazon is the the issuer of the commercial paper program. The corporate credit rating remains 'AA-'. The outlook is stable. Corporate Credit Rating: AA-/Stable/A-1+ Business risk: Strong Country risk: Very low Industry risk: Intermediate Competitive position: Strong Financial risk: Minimal Cash flow/Leverage: Minimal Anchor: aa-
