LONDON (Standard&Poor's) Nov. 26, 2007--Standard&Poor's Ratings Services said today that its ratings and outlook on Dutch diversified technology group Koninklijke Philips Electronics N.V. (A-/Stable/A-2) are unaffected by the group's announcement that it is to acquire Louisville, Kentucky-based lighting fixtures manufacturer Genlyte Group Inc. for $2.7 billion (€1.8 billion). Standard&Poor's considers Philips' financial flexibility to be sufficient to undertake the acquisition, given the group's cash balance of €5.2 billion at Sept. 30, 2007, and listed financial holdings of €5.4 billion at Oct. 11, 2007. The acquisition should be accretive to Standard&Poor's business risk assessment of Philips given the likely positive margin impact on Philips following consolidation of Genlyte, which posted sales of €1.2
