On Oct. 11, 2006, Standard&Poor's Ratings Services lowered its long-term corporate credit ratings on France-based European Aeronautic Defence and Space Co. N.V. (EADS), the world's second-largest aerospace and defense group, to 'A-' from 'A' and the short-term rating to 'A-2' from 'A-1', reflecting increased concerns over the internal management of the group and its ability to resolve significant organizational and competitive challenges. At the same time, the short-term ratings on EADS were removed from CreditWatch with negative implications, where they had been placed on Oct. 3, 2006. The long-term ratings remain on CreditWatch with negative implications, where they had also been placed on Oct. 3, 2006. Yesterday's resignation of Airbus' CEO, who had assumed office only a few
