OREANDA-NEWS. S&P Global Ratings today assigned its 'AA' issue-level rating to Mountain View, Calif.-based global technology company Alphabet Inc.'s proposed senior unsecured notes. The company intends to use the proceeds from the proposed notes for general corporate purposes, including the repayment of outstanding commercial paper.

Our 'AA' corporate credit rating and stable outlook on Alphabet remain unchanged. The corporate credit rating incorporates our assumption that Alphabet will maintain a minimal financial risk profile assessment and exceptional liquidity, with its cash and marketable securities of $78.5 billion and outstanding debt of about $4 billion as of June 30, 2016. The rating also reflects our view of the company's leading position in desktop and mobile search advertising, robust technology, intellectual and financial capital that allows the company to exploit new business opportunities and defend its position against new entrants and existing competition, and strong profitability. We believe that Alphabet's robust technology creates a competitive advantage that is difficult to replicate. With about $82 billion of revenues in the 12 months ended June 30, 2016, Alphabet is significantly larger than the next largest online search advertising providers. Also, the company's revenues are geographically diversified, with less than half of the company's revenues from the year ended June 30, 2016, from the U. S.