FRANKFURT (Standard&Poor's) June 11, 2004--Standard&Poor's Ratings Services said today it revised its outlook on The Netherlands-based mail, express, and logistics group TPG N.V. to stable from negative on expectations of stable credit protection measures. At the same time, Standard&Poor's affirmed its 'A/A-1' corporate credit ratings on the group. "The outlook revision reflects our expectation that TPG will maintain credit protection measures at all times that are consistent with an 'A' long-term rating," said Standard&Poor's credit analyst Martin Amann. Following TPG's announcement to acquire Swedish-based global freight forwarding company Wilson Logistics Group for about €257 million, Standard&Poor's expects no further major acquisitions in the foreseeable future. "In addition, we expect that
