On May 30, 2002, Standard&Poor's assigned its single-'A' rating to Nike Inc.'s $500 million senior unsecured medium-term note program. Standard&Poor's also affirmed Nike's single-'A' long-term corporate credit rating and senior unsecured debt ratings, and the company's 'A-1' short-term corporate credit and commercial paper ratings. Beaverton, Ore.–based Nike had about $1.1 billion of total debt outstanding as of Feb. 28, 2002. The outlook is stable. The ratings reflect the company's No. 1 market share in U.S. athletic footwear and its strong positions internationally, as well as its solid financial profile. Somewhat offsetting these strengths is the company's exposure to changing consumer preferences in this very competitive, marketing-intensive industry. After several years of sluggish results in the U.S.,
