Akamai Technologies Granted Investment-Grade Ratings by Credit Rating Agencies

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Akamai Technologies, Inc. has received investment-grade ratings from Moody's and S&P. Moody's rated Akamai Baa2 with a stable outlook, while S&P assigned the company a BBB+ rating with a stable outlook. The ratings reflect Akamai's leading position in the CDN market, strong operating performance, robust liquidity, and conservative financial profile.

CAMBRIDGE, Mass., Aug. 8, 2023 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announced today it has received investment-grade ratings by two leading credit rating agencies. Moody's Investors Service ("Moody's") rated Akamai Baa2 with a stable outlook and S&P Global Ratings ("S&P") assigned the company a BBB+ rating with a stable outlook.

According to the Moody's report, the rating reflects, among other things, Akamai's leading position in the content delivery network ("CDN") market and certain cyber security markets, strong operating performance, robust liquidity and conservative financial profile.

The S&P report cites Akamai's position as a leader in the CDN market, with positive growth in its enterprise security and compute segments. The report also cites the company's highly recurring revenue base, consistent top-line growth and strong profitability through product investments and acquisitions.

"These investment-grade credit ratings serve as testament to the strength of our business, balance sheet, profitability and cash flow generation," said Ed McGowan, executive vice president and chief financial officer, Akamai Technologies. "They also broaden our financial toolkit, enabling us to evaluate all available financing instruments to determine what is best suited for our financial goals."

About Akamai

Akamai powers and protects life online. Leading companies worldwide choose Akamai to build, deliver, and secure their digital experiences — helping billions of people live, work, and play every day. Akamai Connected Cloud, a massively distributed edge and cloud platform, puts apps and experiences closer to users and keeps threats farther away. Learn more about Akamai's security, compute, and delivery solutions at akamai.com and akamai.com/blog, or follow Akamai Technologies on Twitter and LinkedIn.

Contacts:   

Gina Sorice                                                                                           
Media Relations                                                                                    
646-320-4107                                                                                       
gsorice@akamai.com                                                                          

Tom Barth
Investor Relations
617-274-7130
tbarth@akamai.com

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SOURCE Akamai Technologies, Inc.

FAQ

What are the credit ratings received by Akamai Technologies?

Akamai Technologies received a Baa2 rating from Moody's and a BBB+ rating from S&P.

What factors influenced the credit ratings?

The ratings were influenced by Akamai's leading position in the CDN market, strong operating performance, robust liquidity, and conservative financial profile.

Who assigned the ratings?

Moody's Investors Service and S&P Global Ratings assigned the credit ratings.

What does a stable outlook mean?

A stable outlook indicates that the credit ratings are unlikely to change in the near future.

How will the credit ratings benefit Akamai?

The investment-grade credit ratings broaden Akamai's financial toolkit and enable the evaluation of various financing instruments to achieve financial goals.