FRANKFURT (Standard&Poor's) April 10, 2006--Standard&Poor's Rating Services said today that it assigned its 'AA-' long-term debt rating to the proposed senior unsecured Euro Benchmark Bond to be issued by Germany-based chemicals group BASF AG (AA-/Negative/A-1+). "Proceeds from the bond will be used to refinance the acquisition of Degussa AG's (BBB/Watch Neg/A-3) construction chemicals business as well as for other corporate purposes," said Standard&Poor's credit analyst Tobias Mock. The ratings on BASF reflect the group's modest financial risk and its global leadership as an integrated chemicals producer, benefiting from a broadly diversified portfolio of commodity and specialty chemicals, crop protection products, and oil and gas activities. BASF had sales of €42.7 billion ($51.0 billion) for
