DHL 2006 Annual Report Download - page 63

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e creditworthiness of the Group is regularly reviewed by the rating agencies
Standard & Poor’s, Moody’s Investors Service and Fitch IBCA. e current ratings
are:
Deutsche Post ratings
Moody’s Investors Service Standard & Poor’s Fitch IBCA
Long-term A2 A A+
Outlook Stable Negative Negative
Short-term P–1 A–1 F1
Last change July 27, 2006 September 13, 2006 July 24, 2006
Due to Postbank’s positive share performance, Deutsche Post AG exercised the option
provided for in the bond terms and conditions to call the exchangeable bond on
Postbank stock prior to maturity on July , . Bondholders were able to exchange
the exchangeable bond for Postbank stock until July . Following this transaction,
Deutsche Post’s interest in Postbank stands at  plus one share. Information on
Deutsche Post’s other bonds is contained in the Notes. Note 44
Net Assets and Financial Position 59
Deutsche Post World Net Annual Report 2006
Group Management Report