U.S.-based online video service provider Netflix Inc. has experienced stronger-than-expected operating performance in 2017 due to higher-than-expected revenue growth and EBITDA margin improvement. We are revising our rating outlook on Netflix to positive from stable and affirming our 'B+' corporate credit rating on the company. Our issue-level and recovery ratings on the company remain unchanged. The positive outlook reflects our expectation that Netflix will continue to demonstrate improving operating performance and grow its EBITDA margin by about 300 basis points in 2018 while continuing to maintain strong subscriber growth. On Feb. 21, 2018, S&P Global Ratings revised its rating outlook on Los Gatos, Calif.-based online video service provider Netflix Inc. to positive from stable and affirmed its 'B+' corporate credit
