FRANKFURT (Standard&Poor's) Sept. 16, 2008--Standard&Poor's Ratings Services said today it revised its outlook on Germany-based chemicals producer BASF SE to negative from stable, following the announcement that it will acquire Switzerland-based specialty chemicals producer Ciba Holding Inc. (Ciba). The 'AA-' long-term and 'A-1+' short-term corporate credit ratings on BASF were affirmed. At the same time, we placed the 'BBB-' long-term and 'A-3' short-term corporate credit ratings on Ciba and related entities on CreditWatch with positive implications. BASF's planned purchase of Ciba for a total consideration of about €3.8 billion including financial debt obligations is likely to be closed in 2009 and is subject to regulatory approvals as well as 66.67% approval of Ciba shareholders. "We expect
