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Bulletin: eBay Inc. Ratings Unaffected By Skype Announcement Sep 09
Standard & Poors, Sep 2009
Abstract
NEW YORK (Standard & Poor's) September 1, 2009--Standard & Poor's Ratings Services said today that its ratings and outlook on San Jose, Calif.-based eBay Inc. (A-/Positive/--) are not affected by the company's recent announcement that it has agreed to sell a 65% interest in Skype Technologies S.A. to an investor group led by Silver Lake Partners for approximately $1.9 billion in cash and $125 million of notes. eBay will retain the remaining 35% equity interest in Skype. In 2008, Skype represented less than 10% of eBay's total revenues, is not a material source of operating earnings, and provides limited synergies with the core auction and payments businesses. Although the use of proceeds is currently not clear, the transaction will substantially...
Companies mentioned in this report are: eBay Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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