S&P assigns AA+ to Apple notes

Standard & Poor's said it assigned its AA+ issue-level rating to Apple Inc.'s A$1.1 billion senior unsecured notes due 2019 and A$1.15 billion senior unsecured notes due 2022.

Proceeds will be used general corporate purposes, including the repurchase of common stock and payment of dividends.

Apple’s AA+ corporate credit rating is unchanged and the outlook remains stable.

S&P said Apple's financial risk profile is considered "minimal." Despite the recent increase in the capital return program, the company will maintain a significant net cash position, and the agency views its financial policy as conservative.

The rating and outlook incorporate the company's substantial share repurchases and intention to increase dividends on an annual basis.

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