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To: lorne who wrote (20473)	10/2/1998 9:15:00 PM
From: lorne	Respond to of 116896

MOODY'S REVIEWS JP MORGAN, MORGAN GUARANTY RTGS; DNGRADE POSS. NEW YORK (MktNews) - Moody's Investors Service today placed the long-term debt ratings of J.P. Morgan & Co. (senior at Aa3) and its rated subsidiaries, including Morgan Guaranty Trust Company (deposits at Aa2), on review for possible downgrade. The Prime-1 ratings of JPM and its subsidiaries are confirmed. Moody's said that the review will focus on the longer-term outlook for the company's earnings as well as its exposures to emerging and troubled markets. The review was prompted by the uncertainty about the longer-term outlook for several of JPM's core businesses and the impact which a contraction of those businesses could have on future earnings. The following ratings are on review for possible downgrade: J.P. Morgan & Co. Incorporated - Aa3 senior debt; A1 subordinated debt; "aa3" preferred stock; Aa3 issuer rating. Morgan Guaranty Trust Company of New York - Aa2 bank deposit rating; Aa2 other senior obligation rating; Aa2 senior debt; Aa3 subordinated debt; Aa2 issuer rating; B+ bank financial strength rating. Morgan Guaranty Trust Company of New York, Paris Branch - Aa2 bank deposit rating. J.P. Morgan Australia Ltd. - Aa2 senior debt. J.P. Morgan Index Funding Company, LLC - "aa2" preferred stock. JPM Capital Trust I - "aa3" preferred stock. JPM Capital Trust II - "aa3" preferred stock. JPM Capital Trust III - (P)"aa3" preferred stock. JPM Capital Trust IV - (P)"aa3" preferred stock. The following ratings are confirmed: J.P. Morgan & Co. Incorporated - Prime-1 commercial paper. Morgan Guaranty Trust Company of New York - Prime-1 bank deposit rating; Prime-1 other senior obligation rating; Prime-1 commercial paper. Morgan Guaranty Trust Company of New York, Paris Branch - Prime-1 bank deposit rating. J.P. Morgan Australia Ltd. - Prime-1 commercial paper. J.P. Morgan & Co. Incorporated is a bank holding company headquartered in New York, with total assets of $281 billion as of June 30, 1998. 16:15 EDT 10/02