S&P upgrades Netflix

S&P said it raised its Netflix Inc.’s ratings to BB+ from BB.

“The upgrade reflects Netflix's significantly improved FOCF trajectory and the likelihood that the company will generate sustained positive FOCF beginning as soon as 2021,” the agency said in a press release.

“The secular shift toward streaming video accelerated heavily in 2020 as consumers spent more time at home and consumed increasing amounts of in-home entertainment. All streaming services benefitted from this trend, but Netflix, the leader in the sector, saw an unprecedented shift forward in its operating trajectory,” S&P said.

The outlook is positive.

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