Apple's Swiss Franc Bonds Rated AA+ At S&P

Standard & Poor's Ratings Service assigned Apple Inc.'s Swiss franc-denominated bonds a AA+ rating, which is one notch below its highest AAA rating. The ratings on the CHF1.25 billion in bonds (equivalent of about $1.32 billion), which mature in 2024 and 2030, are the same as Apple's corporate credit rating. The AA+ rating is based on the assumption that Apple will maintain a "minimal risk" financial profile, with low levels of debt, a globally-diverse customer base, strong profitability and "market-leading" products.

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