FRANKFURT (Standard&Poor's) Oct. 21, 2003--Standard&Poor's Ratings Services said today it lowered its long-term corporate credit ratings on DaimlerChrysler AG (DaimlerChrysler) and related entities to 'BBB' from 'BBB+'. This reflects concerns about the increasingly clouded prospects of the Chrysler Group amid intensifying competition in the North American auto market. At the same time, the 'A-2' short-term ratings were affirmed. The outlook is negative. "Although DaimlerChrysler continues to be well positioned in the global luxury and commercial vehicle markets, the risks posed by Chrysler have a significant effect on the overall credit profile of DaimlerChrysler," said Standard&Poor's credit analyst Maria Bissinger. Chrysler's market penetration and pricing have deteriorated significantly this year, with its passenger car business
