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Bulletin: eBay Inc. Ratings Unaffected By Plans To Spin Off Skype Apr 09
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 16, 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 plans to spin-off its Skype unit through an initial public offering by the first half of 2010 followed by full separation over the long term. The IPO value has yet to be determined, and the company has not disclosed the use of the IPO proceeds or method of full separation. In 2008, Skype had sales of $551 million, or 6% of total sales, with low-20% operating margin. Skype is not a material contributor to overall cash flow and provides limited synergies with the core...
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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