LONDON (Standard&Poor's) July 16, 2007--Standard&Poor's Ratings Services said today that its ratings and outlook on Netherlands-based European Aeronautic Defence and Space Co. N.V. (EADS; BBB+/Stable/A-2) are unaffected by the group's decision to modify its current management and leadership structure and improve corporate-governance practices. This includes the introduction of just one chairman and one CEO at EADS, replacing the existing dual-governance structure of two co-chairmen and two co-CEOs. We view this change favorably, since it should help streamline decision making and has been achieved without losing key management personnel. The group's key risks remain unchanged, however, and the new management structure will be judged over time on its ability to deal effectively with considerable challenges, such as
