LONDON (Standard&Poor's) Dec. 19, 2007--Standard&Poor's Ratings Services said today it affirmed its ratings on Dutch diversified technology group Koninklijke Philips Electronics N.V. (Philips), including the 'A-' long-term and 'A-2' short-term corporate credit ratings following the group's announcement of its plan to execute a new share repurchase program of €5 billion over two years commencing January 2008. The outlook is stable. "The affirmation reflects our view that Philips has sufficient financial flexibility to prudently and gradually execute its announced share repurchase over two years, while retaining capacity and resources to grow its business further," said Standard&Poor's credit analyst Michael O'Brien. This has been demonstrated, for example, through two recently announced acquisitions for lighting fixtures manufacturer
