Specifically, S&P Global Market Intelligence, a division of S&P Global Inc., compared Snap to Yelp, Twitter and Facebook during the period of their IPOs and in subsequent quarters. As a result of their analysis, S&P sees Snap’s credit peers are Yelp and Twitter, since each of these firms had similar credit quality pre-IPO. Snap’s Credit Model & ScoreIn order to evaluate Snap’s credit score, S&P undertook an analysis by utilizing CreditModel, a credit scoring model that is an advanced statistical model by S&P Global Market Intelligence. Twitter’s credit score was the same ‘b’ and Yelp’s credit score was two notches lower at ‘ccc+’. This debt is rated ‘BB-‘by S&P Global Ratings, the same as Twitter’s issuer credit rating and their Credit Model score, ‘bb-’.

Source: Forbes March 24, 2017 23:37 UTC