|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Citigroup and J.P. Morgan Chase Settle Enron- and Dynegy-Related Allegations Jul 03
Standard & Poors, July 2003
Abstract
NEW YORK (Standard & Poor's) July 28, 2003--Standard & Poor's Ratings Services said today that Citigroup Inc.'s (Citigroup, AA-/Stable/A-1+) and J.P. Morgan Chase & Co.'s (J.P. Morgan Chase, A+/Negative/A-1) settlement of charges related to structured finance transactions (prepay transactions) they had participated in with Enron Inc. (Enron, NR) and Dynegy Inc. (Dynegy, B/Negative/NR) will not affect Citigroup's or J.P. Morgan Chase's ratings. Citigroup and J.P. Morgan Chase agreed to pay a total of $145.5 million and $162.5 million, respectively, to settle with the SEC, the Office of the Controller of the Currency, the Federal Reserve Bank of New York, the New York State Banking Department, and the District Attorney of New York's Manhattan County. This settlement, while sizable in cost...
Companies mentioned in this report are: Citigroup Inc.,JPMorgan Chase & Co.,Dynegy Inc.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
