NEW YORK (Standard&Poor's) July 10, 2003--Standard&Poor's Ratings Services said today that there would be no effect on the ratings or outlook on NIKE Inc. (A/Stable/A-1) following its agreement to acquire Converse Inc., a designer, distributor, and marketer of high-performance and casual athletic footwear and apparel. NIKE agreed to buy Converse for approximately $305 million plus the assumption of certain working capital liabilities at the time of the transaction's consummation. With revenues of about $205 million in 2002, Converse designs and markets athletic footwear in the categories of sports classics, sports performance, and sports lifestyle. Converse's products are sold in more than 12,000 athletic specialty, sporting goods, specialty, department, and national chain stores across the U.S. and
