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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 231.28

+1.5%

10:05 AM EST

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To: hdl who wrote (146825)	9/5/2002 5:01:45 PM
From: H James Morris	Read Replies (2) of 164684

September 05, 2002. Moody's upgrades Amazon's senior implied credit rating SEATTLE — Amazon.com 's senior implied credit rating was raised one level by Moody's Investors Service, which said the world's largest Internet retailer will probably generate more cash this year than it spends. Moody's raised the senior implied rating, or the Seattle company's overall rating, to B2 from B3. Amazon.com's bond ratings were confirmed, and the outlook is stable, Moody's said. All ratings are junk. About $2.2 billion of debt is affected. Amazon's cash flow will be positive this year, excluding working capital and other costs, Moody's said. Moody's previously had forecast break-even to slightly negative cash flow. Amazon.com ended the second quarter with cash and marketable securities totaling $823.6 million. The company probably won't need to borrow money to finance operations for the next two years, Moody's said.

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