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Moody's Puts Amazon's Ratings on Review

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-21

Moody's Puts Amazon's Ratings on Review
Monday November 19, 3:49 pm ETMoody's Places Amazon.com's Junk Ratings on Review for Possible Upgrade

NEW YORK (AP) -- Moody's Investors Service on Monday placed Amazon.com Inc.'s non-investment grade long-term debt ratings on review for a possible upgrade and affirmed the online retailer's speculative grade liquidity rating.

Moody's said the review reflects Amazon.com's "very strong year-to-date results" for the period ending Sept. 30.

The review will focus on the company's operating performance during the fourth-quarter holiday season, as well as Amazon.com's growth strategy and business initiatives, Moody's said. The rating agency will also review the company's financial policy, its capital structure and liquidity.

Moody's placed Seattle-based Amazon.com's junk corporate family rating and probability of default rating 'Ba2;' junk senior subordinate notes rating of 'Ba3;' and junk senior unsecured shelf rating of 'Ba1' on a review for a possible upgrade.

Moody's affirmed the speculative grade liquidity rating of 'SGL-2.'

Shares of Amazon.com added 74 cents to $79.33 in afternoon trading.

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