NEW YORK (Standard&Poor's CreditWire) Dec. 4, 2000--Standard&Poor's today lowered its long-term ratings on DaimlerChrysler AG and various related entities (see list below). These ratings are removed from CreditWatch, where they were placed on Nov. 16, 2000. The current outlook is negative. All short-term ratings are affirmed (see list below). These ratings had not been on CreditWatch. The downgrades reflect Standard&Poor's expectation of a protracted period of weak financial performance at DaimlerChrysler's key Chrysler Division. Chrysler, which accounted for about half of DaimlerChrysler's overall operating earnings during 1998 through 1999, has subsequently proven vulnerable to heightened competition across its core product segments--minivans, sport utilities, and pickups. Such competition could intensify further over the next few
