SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Stockman Scott's Political Debate Porch
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sidney Reilly who wrote (4608)8/15/2002 12:24:21 PM
From: Jim Willie CB  Read Replies (6) of 89467
 
S&P may cut counterparty rating on 4 U.S. banks

(Press release provided by Standard & Poor's)

NEW YORK, Aug 15 - Standard & Poor's Ratings Services said today that it placed its double-'A'-minus/'A-1'-plus counterparty credit ratings on Merrill Lynch & Co. Inc. (Merrill Lynch), Morgan Stanley, and J.P. Morgan Chase & Co. on CreditWatch with negative implications. If lowered, the long- and short-term ratings are not likely to be lowered by more than one notch.

In addition, the 'A-1'-plus short-term counterparty credit rating for Goldman Sachs Group Inc. (Goldman) is placed on CreditWatch with negative implications, while its single-'A'-plus long-term counterparty credit rating is affirmed. If lowered, Goldman's short-term rating would not fall below 'A-1'. Notwithstanding Goldman's strong liquidity, continued weak environmental factors and a poor outlook for near-term performance pressure its short-term rating.

The outlook on Lehman Brothers Holdings Inc. (Lehman) is revised to negative from stable, and its single-'A'/'A-1' counterparty credit ratings are affirmed.

"The actions are based on the deteriorating environment for the profitability of the investment banking industry," said credit analyst Tom Foley. "Although all of these firms have been profitable during the first half of this year, and should remain so, Standard & Poor's anticipates that they will be operating under conditions of sustained revenue pressure and environmental risk."

Standard & Poor's will review the strategies of these firms for coping with the current market environment.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News