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S&P upgrades outlook for Dürr rating

11/29/2005

Standard & Poor's (S&P) have upgraded the outlook for Dürr AG's long-term corporate credit rating from "Credit watch negative" to "stable". Dürr's long-term corporate credit rating continues to stand at "B".

S&P stated the re-assessment of Dürr's credit quality as the reason for the upgrade. They say that the higher credit quality is based on Dürr's new business plan, the recent sale of companies and confirmed shareholder support.

In November Dürr came to an agreement with its lending banks, according to which the banks support the restructuring program FOCUS. In addition, Dürr has sold its business units Measuring and Process Technologies and Development Test Systems as part of the program to concentrate activities on its core business with the automobile industry, and has initiated a capital increase of 10%. This will considerably improve the finance and capital structure of Dürr; the company expects its net financial debt to drop significantly below € 200 million by the end of 2005.