Fitch lowers Royal Philips to A-

Fitch Ratings said it downgraded Royal Philips NV's long-term issuer default rating and senior unsecured ratings to A- from A.

The outlook on the long-term issuer default rating is stable.

Fitch said the downgrade reflects the company's recent financial performance, which falls short of the agency’s expectations and ongoing risks around the profitability of its core healthcare segment.

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