S&P rates eBay notes BBB+

S&P said it assigned its BBB+ issue-level rating to eBay Inc.'s proposed senior unsecured notes.

S&P said the rating incorporates its view of the company's standing as one of the largest e-commerce platforms globally, with a highly recognizable brand name, and its geographically diversified customer mix. eBay also has its competitive advantages compared with certain larger competitors as it derives the majority of its revenues from a take rate on the gross merchandise value of transactions closed on its e-commerce platform, thus aligning the company's economic interest to that of its merchant customers, which is in contrast to Amazon, which also sells its own products, creating a conflict of interest with its customers.

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