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BULLETIN: J.P. Morgan Chase & Co. Ratings Unaffected By Filing Of Amended Statements Aug 06
Standard & Poors, Aug 2006
Abstract
NEW YORK (Standard & Poor's) Aug. 4, 2006--Standard & Poor's Ratings Services said today that its ratings on J.P. Morgan Chase & Co. (A+/Positive/A-1) will remain unchanged following the company's announcement that it has filed amended Consolidated Statements of Cash Flows for the annual periods from 2003 through 2005, and for the interim period ending March 31, 2006. The restatements correct the misclassification of cash flows related to loans that had been originated or purchased with the intent to sell from investing activities to operating activities. The reclassifications will not have an impact on the firm's income, balance sheet, or capital accounts, and did not result in a material internal control weakness....
Companies mentioned in this report are: JPMorgan Chase & Co.
Action: Bulletin
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.
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