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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (374068)	3/14/2008 11:58:47 AM
From: Road Walker	Read Replies (1) \| Respond to of 1575623

Moody's cuts WaMu to 'Baa3', outlook negative 11:38 AM EDT March 14, 2008 SAN FRANCISCO (MarketWatch) -- Moody's Investors Service Friday downgraded Washington Mutual Inc.'s senior unsecured rating to Baa3 from Baa2 and its long-term deposit rating to Baa2 from Baa1. WaMu's bank financial strength rating of C- and short term rating of Prime-2 were affirmed. Moody's has a negative outlook on all Washington Mutual entities. "Although in the fourth quarter the company raised a significant amount of hybrid capital and reduced its dividend, we believe WaMu's necessary provisioning could reduce capital to a point that would lead to further downgrades in 2008," said Moody's Vice-President Craig Emrick. "There are actions management can take in 2008 to address this, including raising additional capital, reducing assets and further cutting the dividend. However, the negative outlook reflects the uncertainty around the company's ability to replenish capital," he said.