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Netflix Files to Sell $1.8 Billion in Debt Bonds in Refinancing Move
Netflix plans to issue $1.8 billion in debt, the first debt offering since its credit rating was upgraded from junk status last year.
Last week, S&P Global upgraded Netflix’s credit rating from BBB+ to A, citing the company’s “mid-teens percentage revenue growth” and material margin expansion. Moody’s upgraded the streamer’s credit rating from Baa2 to Baa1 with the expectation that Netflix will maintain a “healthy balance sheet” and “ample liquidity,” as reported by Bloomberg. In the one area of concern, co-CEO Greg Peters acknowledged on the earnings interview the streamer has catch-up work to do on the ad-supported tier to close a monetization gap.
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