On Sept. 15, 2006, Standard&Poor's Ratings Services revised its outlook on Germany-based automaker DaimlerChrysler AG and related entities to stable from positive. At the same time, the 'BBB' long-term and 'A-2' short-term corporate credit ratings were affirmed. The outlook revision reflects the unexpected severe decline at Chrysler Group, which is now expected to post an operating loss of €1.2 billion in the third quarter of 2006, a steep deterioration from a previously planned loss of €500 million for the quarter, and now a full-year loss of €1 billion, down from a previously planned break-even result. As a result, DaimlerChrysler revised downward the full-year operating profit guidance on a group level by 17%, to €5 billion from €6 billion.
