Netflix's stock got a boost after the company's credit was finally lifted out of "junk" territory at Moody's, matching S&P's move more than a year...
Shares of Netflix Inc. got a boost Thursday, after the streaming video giant’s credit rating was lifted out of “junk” territory at Moody’s Investors Service, matching S&P Global Ratings’s move more than a year ago.
Moody’s... Shares of Netflix Inc. got a boost Thursday, after the streaming video giant’s credit rating was lifted out of “junk” territory at Moody’s Investors Service, matching S&P Global Ratings’s move more than a year ago. Moody’s said late Wednesday that it raised the rating on Netflix’s NFLX senior unsecured notes to Baa3, which is the lowest investment-grade rating, from Ba1, which is the highest speculative grade, or “junk”, rating. The rating outlook is “positive,” which suggests the next rating move is likely to be another upgrade.
The rating agency said it expects Netflix to remain the “leading direct-to-consumer subscription-video-on-demand single Tier-1 platform in the world,” as it continues to execute its business plan effectively despite increasing competition and continues to improve its fundamental and financial credit profile.
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