FRANKFURT (Standard&Poor's) Sept. 17, 2008--Standard&Poor's Ratings Services said today that German development bank KfW's (AAA/Stable/A-1+) exposure to Lehman Brothers Holdings Inc. (LBHI, D/--/D) will have no impact on its own issuer credit rating. KfW's extremely strong capacity to meet its financial commitments continues to be supported by the implicit and explicit support from the Federal Republic of Germany (AAA/Stable/A-1+). The outlook is stable. On Sept. 16, 2008, KfW said its approximate exposure to LBHI was in the "mid-three digit million euros" range. The necessary amount of provisioning will depend on recovery in the process of LBHI's bankruptcy proceedings. Together with the losses incurred in the context of the sale of KfW's shareholdings in IKB Deutsche Industriebank
