S&P lifts Philips to stable

Standard & Poor's said it revised the outlook on Koninklijke Philips NV to stable from negative.

The agency also said it affirmed the company's A- long-term and A-2 short-term corporate credit ratings.

The outlook revision reflects an expectation that the company will structurally improve its profitability and gradually improve operating results with a greater visible effect expected in the coming quarters, S&P said.

The ratings reflect the group's satisfactory business risk and modest financial risk profiles, the agency said.

The group's main strengths include its global reach and wide product diversity, strong brand name and several world-leading market positions in stable cash-generative businesses, S&P said.

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