NY -- Standard & Poor's CreditWire 11/4/98 -- Standard & Poor's today affirmed its single-'A' corporate credit rating on The Gap Inc. Standard & Poor's also affirmed its single-'A' senior unsecured debt and bank loan ratings, and its 'A-1' commercial paper rating on the company. The outlook is stable. The affirmations follow The Gap's recent announcement that its board of directors has authorized a stock repurchase plan of up to 30 million shares. This plan follows the completion of its previous 45-million share repurchase plan. The estimated value of the new buyback is about $1.8 billion based upon the stock's recent price. Since Standard & Poor's expects that the new program will be financed with free cash flow, similar to
