S&P rates Apple notes AA+

Standard & Poor’s said it assigned an AA+ rating to Apple Inc.’s proposed senior unsecured notes.

The proceeds will be used for general corporate purposes, including the repurchase of common stock and payment of dividends, S&P said.

The new notes are rated at the same level as the company’s corporate credit rating, S&P said.

The AA+ corporate credit rating is unchanged and the outlook remains stable, the agency said.

The ratings consider an assumption that Apple will maintain a minimal financial risk profile with adjusted leverage at less than 1x, S&P said.

The ratings also reflect the company’s strong business risk profile, incorporating market-leading products, globally diverse customer base and strong profitability, the agency said.

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