FRANKFURT (Standard&Poor's) Aug- 29, 2007--Standard&Poor's Ratings Services said today it lowered its long-term corporate credit rating on The Netherlands-based mail group TNT N.V. to 'BBB+' from 'A-', owing to the group's more aggressive financial policy through continued share buybacks. The 'A-2' short-term rating was affirmed. The outlook is stable. TNT's credit protection measures no longer reach the level required for the previous 'A-' rating. The company's financial profile weakened in the first half of 2007, following continued releveraging through share buybacks. "Although credit protection measures are in the upper range of the new rating category, with adjusted funds from operations (FFO) to debt (including operating leases and unfunded pensions) of about 35% for the 12 months
