NY -- Standard&Poor's CreditWire 11/9/98 -- Standard&Poor's today raised its senior debt rating of Apple Computer Inc. to single-'B'-plus from single-'B'-minus. Standard&Poor's also raised its subordinate debt rating to single-'B'-minus from triple-'C'. The upgrade reflects the company's improved profitability and financial profile. The outlook was revised to stable from positive. Cupertino, Calif.-based Apple's ratings reflect extremely competitive industry conditions and declining market share. Although Apple has a strong position in the education and desktop publishing markets, its market presence in the higher-growth corporate and consumer markets is weak and declining. Apple has made significant progress in reducing staff and operating costs, but revenue growth and longer term success are dependent on a limited range
