Paris (Standard&Poor's CreditWire) July 2, 1999--Standard&Poor's today revised its outlook on Koninklijke Philips Electronics N.V. (Philips) to positive from stable. At the same time, Standard&Poor's affirmed its triple-'B'-plus long-term corporate credit and senior unsecured debt ratings on the company. The outlook revision reflects the recent improvements in certain of the group's business positions, notably in its semiconductor activities, and its strong financial profile. The ratings on Philips reflect an average business profile, resulting from increased exposure to high-technology sectors following the disposal of the music group Polygram N.V. The company continues to maintain a diversified business portfolio, but earnings and cash flows are exposed to volatile activities such as semiconductors, consumer electronics, and electronics
