S&P rates Apple notes AA+

Standard & Poor’s said it assigned an AA+ rating to Apple Inc.’s €1 billion senior unsecured notes due 2024 and €1 billion senior unsecured notes due 2027.

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 were rated the same as the AA+ company’s corporate credit rating, which is unchanged.

The outlook remains stable.

Apple’s financial risk profile is considered minimal, S&P said.

Despite the ongoing capital-return program, the company will maintain a significant net cash position, the agency said, and its financial policy is viewed as conservative.

The ratings also consider the company’s substantial share repurchases and intention to increase dividends on an annual basis, S&P said.

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