On July 11, 2003, Standard & Poor's Ratings Services lowered its long-term corporate credit rating on Irish airport operator Aer Rianta to 'A' from 'A+'. The outlook is negative. At the same time, Standard & Poor's affirmed the 'A-1' short-term corporate credit rating on the company. The rating action follows the Irish government's announcement of its intention to split Aer Rianta into three separate airport companies. This creates additional regulatory and political uncertainty at a time when the company is expecting an interim review of its charges that would be expected to improve its financial profile, which is currently too weak for the rating. The Irish government's decision to proceed with up the break-up of Aer Rianta, announced on July
