NEW YORK (Standard&Poor's) April 4, 2002--Standard&Poor's said today that it placed its triple-'A' corporate credit rating for pharmaceutical maker Bristol-Myers Squibb Co. on CreditWatch, with negative implications, following the company's announcement of lower-than-expected earnings for 2002. The 'A-1'-plus short-term corporate credit and commercial paper ratings on Bristol-Myers Squibb Co. have not been placed on CreditWatch. "Standard&Poor's plans to meet with management to discuss the implications of recent developments on the company's financial policies, and earnings and cash flow prospects beyond 2002, before resolving the CreditWatch listing," said Standard&Poor's credit analyst Arthur Wong. The lower earnings for 2002 are due to continued fierce generic competition, lower-than-expected sales of existing products, and planned steps
