LONDON (Standard&Poor's CreditWire) March 9, 2000--Standard&Poor's today affirmed its 'A-1'-plus short-term corporate credit and commercial paper ratings on BASF AG and BASF Corp. The credit quality of BASF Corp.'s commercial paper programs, although not guaranteed by German parent BASF AG, is based on the strength of the overall BASF group (BASF). BASF Corp. not only bears the BASF name, but is also fully integrated into the group's operations. It operates in the U.S., a key market for BASF, given that it constitutes the world's biggest market for both chemicals and pharmaceuticals. The affirmation follows BASF's announcement that it will buy back shares up to a value of euro (Eur) 2 billion. Although a Eur2 billion buyback
