FRANKFURT (Standard&Poor's) May 18, 2005--Standard&Poor's Rating Services said today it assigned its 'AA-' long-term debt rating to the proposed senior unsecured Euro benchmark bond, maturing in May 2012, to be issued by Germany-based chemicals group BASF AG (AA-/Stable/A-1+). "Proceeds from the bond will be used to refinance the €1.25 billion bond due to mature in July 2005", said Standard&Poor's credit analyst Tobias Mock. The ratings on BASF reflect the group's modest to minimal financial risk and its global leadership as an integrated chemical producer, benefiting from a broadly diversified portfolio of commodity and specialty chemicals, crop protection products, and oil&gas exploration activities. GROUP E-MAIL ADDRESS CorporateFinanceEurope@standardandpoors.com
