NY -- Standard&Poor's CreditWire 7/10/98 -- Standard&Poor's today placed its single-'A'-plus corporate credit and senior unsecured debt ratings of Nike Inc. on CreditWatch with negative implications. Nike's 'A-1' commercial paper rating is affirmed and is not placed on CreditWatch. The CreditWatch listing reflects Standard&Poor's expectation that operating results and credit measures will continue to be below previously expected levels. This is due to the ongoing softness in the U.S. athletic footwear and apparel markets and very weak Asian economies. Total debt outstanding at May 31, 1998 was $860 million. Revenue growth slowed significantly to 4% in fiscal 1998 following three years of very rapid sales increases. Net income, excluding the 1998 restructuring charge, declined
