On Dec. 19, 2007, Standard&Poor's Ratings Services revised its outlook on Irish airport operator Dublin Airport Authority PLC (DAA) to stable from negative. At the same time, Standard&Poor's affirmed its 'A' long-term and 'A-1' short-term corporate credit ratings on DAA. The 'A' long-term senior unsecured debt rating on DAA Finance PLC's €250 million 6.15% bond issue guaranteed by DAA was also affirmed. The outlook revision follows our review of DAA's business plan, reflecting its €2 billion investment program and the outcome of the interim review of the determination on airport charges for Dublin Airport for 2006-2009, concluded in July 2007. Despite the high level of investment forecast for the next seven years, DAA's current low leveraged
