SAN FRANCISCO (S&P Global Ratings) Aug. 31, 2016--S&P Global Ratings said today that its ratings on Cupertino, Calif.-based global hardware and services provider Apple Inc., including its 'AA+' corporate credit rating, are not currently affected by European Union's antitrust regulators' ruling on Aug. 30 that Apple must pay up to €13 billion in back taxes to Ireland. Apple is likely to reserve some cash in an escrow account in the future in light of the decision, but the company, along with Ireland, plans to appeal the decision. Despite the European decision and frequent debt issuances, Apple maintains a sizable cash balance totaling $232 billion as of June 25, 2016 and we view its financial policy as conservative. We note that
