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Bulletin: JPMorgan Chase & Co. Rating Unaffected By Amendment Of Bear Stearns Agreement Mar 08
Standard & Poors, March 2008
Abstract
NEW YORK (Standard & Poor's) March 24, 2008-Standard & Poor's Ratings Services said today that its rating on JPMorgan Chase & Co. (AA-/Stable/A-1+) will not be affected by the amended terms of its offer to purchase The Bear Stearns Cos. Inc. JPMorgan has raised its purchase price to $10 per share from $2 and provided a $1 billion first-loss cushion for the Federal Reserve Board's funding facility. The increase in the price is still immaterial to JPMorgan's overall capital strength and does not significantly increase the risk of the transaction....
Companies mentioned in this report are: JPMorgan Chase & Co.,Bear Stearns Cos. LLC
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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