S&P cuts Deutsche Post to A-

Standard & Poor's said it lowered its long-term corporate credit ratings on Deutsche Post AG and related entities to A- from A and its short-term rating to A-2 from A-1. All ratings were removed from CreditWatch, where they were placed with negative implications in March.

The outlook is negative.

The downgrade reflects S&P's view that the company's credit protection measures no longer reach the level required for the previous A rating. The company has accumulated significant debt due to acquisitions and operating performance in 2006 was weaker than expected, the agency said.

The negative outlook reflects uncertainties about the group's ability to steadily improve its financial profile over the next two years, S&P added.

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