In the third quarter of 2013, Netflix Inc. experienced net domestic subscriber growth of 1.29 million. The company is now on track to add 6 million net domestic subscribers in full-year 2013. We are revising our 'BB-' rating outlook to stable from negative. The stable outlook reflects our expectation that Netflix will continue to experience good revenue growth from solid subscriber growth in 2014, and that the increase in discretionary cash flow deficit in 2014 (resulting from entering new international markets) will not pressure liquidity. On Nov. 1, 2013, Standard&Poor's Ratings Services revised its rating outlook on Netflix Inc. to stable from negative. The 'BB-' corporate credit rating on Netflix is affirmed. Our outlook revision reflects the company's
