... Philips has announced plans to split off its lighting business into a separate legal structure. + We see some risk that Philips' overall credit quality may weaken following the spin-off, as the remaining group operations will have less business diversity. + We are revising our outlook on Philips to negative and affirming the 'A-/A-2' long- and short-term ratings on the group. + The negative outlook reflects the chance of a one-notch downgrade upon the effective spin-off of the lighting business. FRANKFURT (Standard & Poor's) Oct. 2, 2014--Standard & Poor's Ratings Services today revised its outlook on Netherlands-based diversified technology group Koninklijke Philips N.V. to negative from stable. At the same time, we affirmed our 'A-/A-2' long- and short-term corporate credit ratings on Philips. The negative outlook reflects the risk that, following the planned spin-off of the group's lighting sector, Philips' credit profile may no longer...
