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BULLETIN: Losses from Private Equity Investments for J.P. Morgan Chase Partners Jul 01
Standard & Poors, July 2001
Abstract
Counterparty credit ratings: AA-/Stable/A-1+ Standard & Poor's states that the $829 million of losses from private equity investments for J.P. Morgan Chase Partners will not affect the current ratings of J.P. Morgan Chase & Co. The write-downs represent a modest 9% of the current $10 billion portfolio, reflecting the drop in valuations, particularly in the more recent, nonpublicly traded investments in the telecommunications sector. While Standard & Poor's sees the private equity businesses as a significant concentration for the company, it remains a good business, with superior returns experienced during the past 15 years. Excluding the private equity losses, operating earnings are down very modestly, reflecting the impact of soft equity markets on the asset management, custody, and trading and...
Companies mentioned in this report are: JPMorgan Chase & Co.
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.
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