The corporate credit and associated debt-issue ratings on DaimlerChrysler Australia/Pacific Pty Ltd. (DCAP; BBB+/Stable/A-2) reflect those on its ultimate parent company, DaimlerChrysler AG (DaimlerChrysler; BBB+/Stable/A-2). DaimlerChrysler guarantees the long-term debt issues of DCAP. On Aug. 10, 2007, Standard&Poor's Ratings Services raised its long-term corporate credit rating on DaimlerChrysler and related entities to 'BBB+' from 'BBB' upon completion of the sale of a majority stake of its Chrysler business to private-equity company Cerberus Capital Management, L.P. and removed it from CreditWatch, where it had been placed with positive implications on May 14, 2007. At the same time, the short-term 'A-2' rating was affirmed. The outlook is stable. The upgrade reflects the positive effect of the transaction on the credit
