Rating Action:
Moody's assigns Ba3 rating to Netflix's proposed notes offering
21 Oct 2019
New York, October 21, 2019 -- Moody's Investors Service ("Moody's") has assigned a Ba3 rating to Netflix, Inc.'s (Netflix) proposed $2 billion senior unsecured notes offering split between dollar and Euro issuance and maturing in 2030. Proceeds from the issuance will be used for general corporate purposes, which may include content acquisitions, capital expenditures, investments, working capital and potential acquisitions and strategic transactions. Netflix's Ba3 corporate family rating (CFR) and Ba2-PD probability of default rating (PDR) remain unchanged. The speculative grade liquidity rating (SGL) is maintained at SGL-1. The outlook remains stable.
A summary of today's action follows:
Assignments:
..Issuer: Netflix, Inc.
....Senior Unsecured Regular Bond/Debenture, Assigned Ba3 (LGD4)
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