LONDON -- Standard&Poor's CreditWire 8/29/97 -- Standard&Poor's today affirmed its triple-'B'-plus corporate credit and senior unsecured ratings of Philips Electronics N.V. (Philips) and revised the outlook to stable from negative. The outlook revision reflects significant improvements in the group's business and financial profiles over the last 10 months. On the business side, Philips has undertaken a major restructuring under new President, Cor Boonstra, which involves becoming more cost competitive in a number of areas such as Sound&Vision and exiting non-core activities. Philips have now all but severed their relationship with loss-making Grundig, will put their mobile telephone operations in a joint venture with Lucent Technologies and have sold, or are in the process of
