S&P Global Ratings expects Seattle-based e-commerce and cloud computing company Amazon.com Inc. to sustain strong revenue and profit growth in the coming years, based on its solid market leadership and favorable secular trends in e-commerce and cloud business. We raised our issuer credit rating on Amazon to 'AA' from 'AA-'. At the same time, we raised our issue-level ratings on the company's unsecured notes to 'AA' from 'AA-'. Our 'A-1+' short-term rating is unchanged. The stable outlook on Amazon reflects our expectation for strong cash flow generation, continued investment in growth, and that business conditions will remain positive over the next two years. We also forecast leverage will remain below 0.5x. Amazon steadily improved its EBITDA margins in recent years,
