On Oct. 30, 2006, Standard&Poor's Ratings Services revised its outlook on Germany-based aviation group Deutsche Lufthansa AG to stable from negative and raised its short-term corporate credit rating on Lufthansa to 'A-2' from 'A-3'. This follows the group's strong increase in operating profits and the upgrade of its trading forecasts for the full-year 2006. At the same time, Standard&Poor's affirmed its 'BBB' long-term corporate credit rating and 'BBB' senior unsecured debt rating on Lufthansa. The outlook revision primarily reflects Lufthansa's improved financial performance and trading prospects within the confines of a challenging and competitive environment. Progress made in restructuring, supported by the return to profitability of the loss-making catering operation and Swiss International AG, and the
