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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (31795)6/9/2000 10:12:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
Standard and Poors revises outlook on Microsoft to negative

NEW YORK, June 8 (AFP) - Standard and Poors on Thursday downgraded its outlook on Microsoft from stable to negative following a court order that the company be broken up for antitrust violations.

But the agency maintained its double-A corporate credit rating and single-A-plus preferred stock rating on the software giant.

"The outlook revision reflects the US District judges decision that Microsoft draw up a breakup plan and implement behavioral remedies in the near term," Standard and Poors said in a statement.

Judge Thomas Penfield Jackson on Wednesday ruled that Microsoft should be split into two companies, one to develop the Windows operating system and the another to market software application products.

The judge also imposed restrictions on Microsofts business practices to allow computer makers more flexibility in choosing which software to include in their machines.

Standard and Poors said that while the breakup order could be stayed pending appeal, enforcement of the conduct remedies may go ahead on schedule. The court on Wednesday said such measures would take effect in three months.

The agency added that if Microsoft were split up, the ratings on the two new entities -- while very strong -- would likely be lower than those of the unitary company.

It said the potential ratings reflects the possibility of business disruptions as the restructuring is carried out.
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