NY -- Standard&Poor's CreditWire 10/24/96 -- Standard&Poor's today has revised its outlook on Philips Electronics N.V.'s long-term debt issues to negative from stable. At the same time, Standard&Poor's has affirmed its triple-`B'-plus rating on the group's senior debt and corporate credit rating. The outlook change reflects the company's disappointing financial performance for the nine months ended September 1996, and management's announcement that a restructuring charge of NLG 1 billion (about US$585 million) will be taken in the fourth quarter of 1996. If management's objectives of restoring profitability and cash flow generation during 1997 are not met, Standard&Poor's may lower its ratings on the company, Standard&Poor's said. -- CreditWire
