S&P has raised its rating on Google's (GOOG +3.1%) debt to AA from AA-, with a stable...


S&P has raised its rating on Google's (GOOG +3.1%) debt to AA from AA-, with a stable outlook. Given Google (per its Q3 balance sheet) has $46.8B in cash and investments offset by only $6.2B in debt, and is throwing off plenty of free cash flow, a good question is why the company's rating was ever at AA- to begin with.
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