NEW YORK (Standard&Poor's CreditWire) April 19, 1999--Standard&Poor's today lowered its long-term corporate credit and senior unsecured debt ratings for Nike, Inc. to single-'A' from single-'A'-plus. The rating on Nike's shelf registration was lowered to preliminary single-'A'/single-'A'-minus from preliminary single-'A'-plus/single-'A'. The ratings are removed from CreditWatch, where they were placed July 8, 1998. The 'A-1' short-term corporate credit and commercial paper ratings for the company were affirmed. The short-term ratings were not previously on CreditWatch. About $945 million of long-term debt is outstanding. The outlook is stable. The downgrade reflects increased industry business risk and weakened credit protection measures. Ratings are based on Nike's number-one share in the U.S. athletic footwear market and its leading positions internationally
