NEW YORK (Standard&Poor's) Aug. 15, 2001--Standard&Poor's today assigned its single-'A' rating to Nike Inc.'s $250 million senior notes due 2006. The proceeds are to be used for refinancing existing short-term debt. Simultaneously, the single-'A' long-term corporate credit and senior unsecured debt ratings, as well as the 'A-1' short-term corporate credit and commercial paper ratings for the company were affirmed. The outlook is stable. About $1.3 billion of total debt was outstanding as of May 31, 2001. The ratings for Nike are based on the company's strong No. 1 market share in U.S. athletic footwear and its leading positions internationally as well as its solid financial profile. Somewhat offsetting these strengths is the company's exposure to changing
