U.S. Internet subscription provider Netflix's operating and financial performance has been strong. We are raising our corporate credit rating on the company to 'BB+' from 'BB-'. The stable outlook reflects our view that Netflix will maintain its positive momentum with sales and subscriber growth, resulting in stable or improving credit metrics. On Oct. 29, 2010, Standard&Poor's Ratings Services raised its corporate credit and senior unsecured debt ratings on Los Gatos, Calif.-based Netflix Inc. to 'BB+' from 'BB-'. The rating outlook is stable. The recovery rating remains a '3', indicating our expectation of meaningful (50%-70%) recovery for noteholders in the event of a payment default. Our criteria limits the recovery rating on 'BB' category senior unsecured debt issues to
