Despite difficult economic conditions, Seattle-based Amazon.com's (Amazon's) performance has been strong over the past year. We are placing the ratings on Amazon on CreditWatch with positive implications based on its robust operations and our expectations for a good holiday season and continued gains over the intermediate term. On Dec. 17, 2009, Standard&Poor's Ratings Services placed its ratings on Amazon on CreditWatch with positive implications. This action reflects the continued good performance the company has demonstrated over the past year, which has been particularly difficult for retailers, and our expectations for a strong holiday season and for further progress in 2010. This has led to a positive reevaluation of the company's business risk. Amazon's credit protection metrics have benefitted
