...On June 13, 2007 Standard & Poor's Ratings Services raised its corporate credit rating on Amazon.com to '##' from '##-'. The rating change is based on the company's continued strong growth, maintenance of its good market position, and improved credit protection metrics. The outlook is stable. The ratings on Seattle, Wash.-based Amazon.com, one of the world's largest online retailers, reflect the risks of rapid growth, participation in the mature and highly competitive retail industry, and continued operating margin deterioration. The risks are somewhat tempered by the company's market position in online retailing and improving cash flow protection measures. Amazon participates in the fragmented, competitive e-commerce retail market. Competitors include other online e-commerce sites (eBay), discounters (Wal-Mart), department stores (Macy's, J.C. Penney), big box retailers (Barnes & Noble, Best Buy), and other e-commerce and infrastructure Web service providers. Many retailers, including...
