Meta Platforms Inc. has a market-leading global position in social media and messaging with robust intellectual and financial capital. We are assigning our 'AA-' long-term issuer credit rating to the company. Our stable outlook reflects our expectation for roughly flat revenue growth over the next 12-18 months due to a slowing economic environment, but cash balances will remain high with no leverage. We anticipate the company will effectively manage its ongoing privacy, regulatory, and legal challenges while maintaining its global leadership position in social media and digital advertising. Our economists have steadily increased their expected risk of recession over the past six months and believe that an extended period of low growth is likely. Whether a recession occurs is less
