S&P: Amazon on positive watch

Standard & Poor's said it placed its ratings on Amazon.com Inc. on CreditWatch with positive implications.

This placement reflects the continued good performance the company has demonstrated over the past year, which has been particularly difficult for retailers, and S&P's expectations for a strong holiday season and further progress in 2010.

S&P said that Amazon's credit protection metrics have benefitted from robust growth over the past 12 months coupled with moderate debt repayment. EBITDA has increased about 24.7% year over year.

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