Paris -- Standard&Poor's CreditWire 2/5/98 -- Standard&Poor's today affirmed its triple-'A' long-term and 'A-1+' short-term corporate credit ratings on Nestle S.A. The outlook on Nestle S.A. is revised to negative from stable. The outlook change reflects the increase of the group's indebtedness following several recent acquisitions, notably that of Spillers Petfoods for £715 million. The key credit measures were already somewhat weak for the triple-'A' rating. The ratings on Nestle S.A. and related entities reflect the consolidated group's position as the world's largest producer of branded, packaged foods, with total 1997 sales of about Swiss franc (SFr) 70 billion (US$46.1 billion), a highly diversified business portfolio in product and geographic terms, as well as the stable
