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Bear Stearns Cos. 'BBB/A-3' Ratings Placed On Watch Dev; JPMorgan Chase Ratings Affirmed Mar 08
Standard & Poors, March 2008
Abstract
NEW YORK (Standard & Poor's) March 17, 2008--Standard & Poor's Ratings Services said today that it placed its 'BBB' long- and 'A-3' short-term counterparty credit ratings on The Bear Stearns Cos. Inc. (Bear) on CreditWatch with developing implications. The ratings had been placed on CreditWatch with negative implications on March 14, 2008. At the same time, Standard & Poor's affirmed its 'AA-' long- and 'A-1+' short-term counterparty credit ratings on JPMorgan Chase & Co. (JPMC). The outlook is stable. 'The rating actions follow the recent announcement that JPMC has agreed to acquire Bear in an all-stock transaction. The transaction remains subject to shareholder approval,' said Standard & Poor's credit analyst Diane Hinton. JPMC's acquisition of Bear comes after the banking...
Companies mentioned in this report are: Bear Stearns Cos. LLC,JPMorgan Chase & Co.
Action: Affirmed
Action: Outlook: Stable
Action: On CreditWatch:Developing
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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