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Technology Stocks : America On-Line (AOL)
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To: Richard Roman Kowalski who wrote (8334)3/29/1999 5:44:00 PM
From: Bill Fortier  Read Replies (1) of 41369
 
To All!

Monday March 29, 5:11 pm Eastern Time

S&P may raise America Online
ratings

( PRESS RELEASE PROVIDED BY STANDARD &
POOR'S)

NEW YORK, March 29 - Standard & Poor's today placed its
ratings of America Online on CreditWatch with positive implications (see list below).

The CreditWatch listing reflects the company's improving cash flow and profitability measures,
driven by solid subscriber base growth.

Revenues for the 12 months ended Dec. 31, 1998 were more than $3.5 billion. AOL's operating
margins have improved considerably, to 13% for the first half of fiscal year 1999, which is more
than twice that of the previous year.

Profitability improvement is likely to continue, despite additional costs associated with the
Netscape acquisition, as subscriber growth and advertising revenue growth are robust.

Liquidity is strong with more than $2 billion in cash and full availability of its $200 million facility.

Standard & Poor's will assess the company's longer-term strategic and financial goals prior to
resolving the CreditWatch listing.

-- CreditWire RATINGS PLACED ON CREDITWATCH WITH POSITIVE
IMPLICATIONS

Rating
Corporate credit rating BB-
Convertible subordinated note rating B
Bank loan rating BB-
Senior unsecured note rating BB-
Preferred stock Prelim B-

More Quotes and News:
America Online Inc (NYSE:AOL - news)
Related News Categories: options, US Market News

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