Bangkok--8 Aug--Fitch Ratings Fitch Ratings (Thailand) Limited has today upgraded the National Long-term ratings of DaimlerChrysler (Thailand) Limited’s (DCT) THB2.0 billion guaranteed debentures due 2007 and THB2.5bn guaranteed debentures due 2009 to ‘AA+(tha)’ from ‘AA(tha)’, and simultaneously removed them from Rating Watch Positive (RWP). This follows the agency’s upgrade on DaimlerChrysler AG’s (DCX) Long-term Issuer Default rating (IDR) to ‘A-’ (A minus) from ‘BBB+’. The rating Outlook for both debentures is Stable. DCT’s National rating is based entirely on the full, irrevocable and unconditional guarantee on the debentures by DCX. Fitch upgraded DCX’s Long-term IDR following the sale of an 80.1% stake in the Chrysler Group and the related financial services business (Chrysler) to a subsidiary of Cerberus Capital Management, L.P. for a total consideration of EUR5.5bn. Fitch expects the disposal of Chrysler to considerably reduce uncertainties and risks, in particular, those related to earnings volatility, profitability and legacy liabilities. The refocus on the Mercedes Car Group and commercial vehicles activities should result in a stronger financial profile, thanks to a sounder financial structure and higher profitability (see full details in DCX’s press release on www.fitchresearch.com). Contacts: Lertchai Kochareonrattanakul, Soamsiri Chadavadh, Vincent Milton, Bangkok, Tel: + 662 655 4755; Emmanuel Bulle, Paris, Tel: +33 1 44 29 91 84. Note to Editors: Fitch’s National ratings provide a relative measure of creditworthiness for rated entities in countries with sub- or low-investment grade international sovereign ratings. The best risk within a country is rated ‘AAA’ and other credits are rated only relative to this risk. National ratings are designed for use mainly by local investors in local markets and are signified by the addition of an identifier for the country concerned, such as ‘AAA(tha)’ for National ratings in Thailand. Specific letter grades are not therefore internationally comparable. Fitch’s rating definitions and the terms of use of such ratings are available on the agency’s public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch’s code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the ‘Code of Conduct’ section of this site.