Apple Inc.'s Australian Dollar-Denominated Senior Unsecured Notes Assigned 'AA+' Rating

SAN FRANCISCO (Standard&Poor's) Aug. 25, 2015--Standard&Poor's Ratings Services today assigned its 'AA+' issue-level rating to Cupertino, Calif.-based global hardware and services provider Apple Inc.'s A$1.1 billion senior unsecured notes due 2019 and A$1.15 billion senior unsecured notes due 2022. The company will use the proceeds from the notes for general corporate purposes, including the repurchase of common stock and payment of dividends. We rate the new notes the same as the corporate credit rating on the company. Our 'AA+' corporate credit rating on Apple is unchanged, and the outlook remains stable. Apple's financial risk profile is considered "minimal." Despite the recent increase in the capital return program, the company will maintain a significant net cash position,

...SAN FRANCISCO (Standard & Poor's) Aug. 25, 2015--Standard & Poor's Ratings Services today assigned its '##+' issue-level rating to Cupertino, Calif.-based global hardware and services provider Apple Inc.'s A$1.1 billion senior unsecured notes due 2019 and A$1.15 billion senior unsecured notes due 2022. The company will use the proceeds from the notes for general corporate purposes, including the repurchase of common stock and payment of dividends. We rate the new notes the same as the corporate credit rating on the company. Our '##+' corporate credit rating on Apple is unchanged, and the outlook remains stable. Apple's financial risk profile is considered "minimal." Despite the recent increase in the capital return program, the company will maintain a significant net cash position, and we view its financial policy as conservative. Our rating and outlook incorporate the company's substantial share repurchases and intention to increase dividends on an annual basis. While we expect total shareholder...

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