Jul. 7 at 9:01 PM
Fitch Ratings assigned an 'AA-' rating to Amazon's proposed U.S. dollar senior unsecured bond offering and affirmed the company's 'AA-' Long-Term Issuer Default Rating with a Stable Outlook. The proceeds will be used for general corporate purposes, including higher capital spending and strategic investments.
Fitch cited Amazon's leadership in e-commerce and cloud computing, strong customer relationships, and financial flexibility, supported by
$162 billion in 2025 EBITDA and low leverage. The agency expects revenue to grow 13% in 2026 and around 10% annually thereafter, driven by AWS and AI, while EBITDA continues expanding at a mid-to-high teens pace.
Amazon plans to increase capital expenditures to
$200 billion in 2026 from
$132 billion in 2025, largely to support AWS and AI infrastructure. The company has also committed up to
$50 billion to its OpenAI partnership and announced a
$5 billion investment in Anthropic, with up to
$20 billion more planned.
$AMZN