We are assigning our 'A-' issuer credit rating to Salesforce.com Inc. We are also assigning our 'A-' issue-level rating to Salesforce.com's proposed senior unsecured notes and existing $500 million term loan. The proceeds from the debt issuance will be used to partly finance the $6.5 billion acquisition of Mulesoft. The stable outlook on Salesforce.com reflects our expectation for consistent revenue and cash flow expansion, supported by its software-as-a-service (SaaS) business model and market share expansion, as well as our view that the company will be committed to a strong investment-grade profile as it pursues acquisition opportunities. On April 2, 2018, S&P Global Ratings assigned its 'A-' issuer credit rating to San Francisco-based Salesforce.com Inc. The outlook is stable. We also
