Deutsche Boerse, Clearstream Banking's ultimate parent, and NYSE Euronext announced on June 7, 2011, that they plan to pay a one-time special dividend of up to €620 million to shareholders of the Dutch holding company of the merged group ("Holdco"). Deutsche Boerse and SIX group signed a definitive agreement to make Deutsche Boerse sole owner of Eurex, for €295 million in cash and €295 million in shares of Holdco. We believe the ring-fence around Clearstream's capital structure protects it from the rest of Deutsche Boerse group. We are affirming our 'AA/A-1+' ratings on Clearstream Banking. PARIS (Standard&Poor's) June 14, 2011--Standard&Poor's Ratings Services said today that it has affirmed its long- and short-term 'AA/A-1+' counterparty credit ratings
