...+ German Airline Lufthansa is proposing to issue junior subordinated hybrid securities. + We assess the proposed securities as having "intermediate" equity content. + We are assigning our '##' issue rating to the proposed securities to reflect their subordination and optional deferability. LONDON (Standard & Poor's) March 20, 2015--Standard & Poor's Ratings Services today assigned its '##' long-term issue rating to the proposed long-dated, optionally deferrable, and subordinated hybrid capital securities to be issued by German airline Deutsche Lufthansa AG (###-/Stable/A-3). Under this transaction, Lufthansa plans to issue Euro-denominated hybrid instruments. The amount remains subject to market conditions. We consider the proposed securities to have "intermediate" equity content until their respective first call dates because they meet our criteria in terms of subordination, permanence, and deferability at the company's discretion during this period. We arrive at our '##' issue rating...
