FRANKFURT (Standard&Poor's) Nov. 5, 2007--Standard&Poor's Ratings Services said today that it affirmed its 'AAA' long-term and 'A-1+' short-term corporate credit ratings on Germany-based air traffic control company DFS Deutsche Flugsicherung GmbH (DFS), based on strong links with, and expected extraordinary support from, its sole owner the Federal Republic of Germany (FRG; AAA/Stable/A-1+) as DFS's activities are of strategic importance to the country's economy, public safety, and defense capability. The outlook is negative. The German government remains committed to privatizing the company by selling up to 74.9% of the capital. However, it is still undecided if, when, and how privatization would occur and what DFS's future ownership structure will look like. Given the remaining two-year timeframe until
