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To: mishedlo who wrote (66283)	6/22/2007 12:59:33 AM
From: Broken_Clock	Respond to of 116555

Nice info Mish. Now see how this fits in....hmmmm? From: redfrecknj 6/21/2007 10:24:31 PM 1 Recommendation Read Replies (1) of 83000 June 18, 2007 Change to Credit Rating Agencies Considered On June 18, 2007, the Federal Reserve Board stopped using Fitch Investors Service as a credit rating source. Classification as AA or A2/P2 for rate calculations and classification as Tier-1 or Tier-2 for outstanding calculations are done using Moody's Investors Service and Standard & Poor's. federalreserve.gov

To: mishedlo who wrote (66283)	6/22/2007 1:30:51 AM
From: Broken_Clock	Respond to of 116555

Bear Stearns may assume hedge fund loans: report Fri Jun 22, 2007 12:55AM EDT NEW YORK (Reuters) - Bear Stearns Cos. (BSC.N: Quote, Profile, Research), trying to prevent the collapse of two of its hedge funds, may take over about $3.2 billion of the funds' loans to prevent creditors from seizing more assets, Bloomberg reported on its Web site on Friday. Bear Stearns offered to assume the loans, made by banks and securities firms, after Merrill Lynch & Co. (MER.N: Quote, Profile, Research) took assets that backed $850 million in credit lines, according to the report, which cited people with knowledge of the plan. An agreement with creditors may avert a fire sale of assets, the report added. Bear Stearns was not immediately available for comment. The company's High Grade Structured Credit Strategies Enhanced Leverage Fund made bad bets on collateralized debt obligations linked to the $583 billion subprime mortgage bond market. Assets once topped $20 billion at that fund and a sister fund, the High Grade Structured Credit Strategies Fund, but the funds have lost billions of dollars.