Moody's rates Google Aa2

Moody's Investors Service said it assigned a long-term issuer rating of Aa2 and a short-term rating for commercial paper of prime-1 to Google Inc.

The outlook is stable.

The ratings reflect the company's position as the world's leading Internet search engine and online advertising company, Moody's said, as well as its growing strength in fast developing areas such as online video (YouTube), mobile advertising and its cloud-based and mobile operating systems.

Google's strong debt protection measures are supported by more than $9 billion of operating profit and free cash flow for the 12 months that ended June 2010, more than $30 billion in cash balances and zero balance-sheet debt, the agency said.

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