The ratings on Germany-based air traffic control company DFS Deutsche Flugsicherung GmbH (DFS) are based on strong links with, and expected extraordinary support from, its sole owner the Federal Republic of Germany (AAA/Stable/A-1+) as DFS' activities are of strategic importance to the country's economy, public safety, and defense capability. The German government remains committed to privatizing the company by selling up to 74.9% of the capital. The proposed law has attracted discussions about the state's constitutional ability to privatize such a strategically important company. In October 2006, the German president refused to sign the proposed privatization law. It is still undecided if, when, and how privatization would occur and what DFS' future ownership structure will look like. Given the remaining
