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S&P Credit Research504 word report
published Nov 11, 2008
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Nov. 11, 2008--Standard&Poor's Ratings Services said today that its rating and outlook on Deutsche Post AG (DP; BBB+/Negative/A-2) remain unchanged following the Germany-based postal service provider's announcement that an increase in the scope of restructuring at its U.S. Express business will raise related cash charges to $3.9 billion (€3 billion) from $2.0 billion. Although the increase in the restructuring charge is significant, the financial benefits of exiting the domestic air and ground express service are material. Under the group's new plan, operating losses are expected to fall to an annualized level of less than $400 million by the end of 2009, compared with the current $1.5 billion loss forecast in 2008. Cash costs will
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: Deutsche Post '###+' Ratings Unaffected By Doubling Of Restructuring Charge At U.S. Express Publication date: 11-Nov-2008 Primary Credit Analyst: Leigh Bailey, London (44) 20-7176-3780; leigh_bailey@standardandpoor...
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| Report Type: | Bulletin
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| Ticker: | DPW@GR
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| Issuer: | Deutsche Post AG
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| GICS: | Air Freight & Logistics (20301010)
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| Sector: | Collateralized Debt Obligations, Corporations, Financial Institutions, Global Issuers, Public Finance, Residential MBS, Structured Finance, Transportation
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| Country: | Germany
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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