Apple recently announced that it intends to access the commercial paper market. We are assigning our 'A-1+' commercial paper rating to Apple. At the same time, we are affirming our 'AA+' corporate credit and senior unsecured debt ratings. The stable outlook reflects our expectation that Apple will maintain very modest leverage, significant net cash balances, and a commitment to a minimal financial risk profile. On April 24, 2014, Standard&Poor's Ratings Services assigned its 'A-1+' commercial paper rating to Cupertino, Calif.-based Apple Inc. At the same time, we affirmed our 'AA+' corporate credit rating on Apple and the ratings on its senior unsecured debt. The outlook is stable. The rating on Apple reflects the company's "minimal" financial risk profile
