| Abstract: | NEW YORK (Standard&Poor's) Nov. 15, 2007--Standard&Poor's Ratings Services said today that it lowered its long-term counterparty credit rating on The Bear Stearns Cos. Inc. (Bear Stearns) to 'A' from 'A+'. At the same time, the 'A-1' short-term rating was affirmed. The outlook is negative. "The rating action follows Bear Stearns' announcement that it would take a fourth-quarter writedown on its CDO and subprime exposure of $1.2 billion, which will result in the company's first quarterly loss in its history," said Standard&Poor's credit analyst Diane Hinton. We consider the writedown to be comparatively less than that of peers', particularly given Bear Stearns' substantial business concentration in the U.S. mortgage market. However, the expected net loss
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| Brief Excerpt: | RESEARCH Ratings Definitions Bear Stearns Cos. Inc. L-T Rating Lowered To 'A'; 'A-1' S-T Rating Affirmed; Outlook Negative Publication date: 15-Nov-2007 Primary Credit Analyst: Diane Hinton, New York (1) 212-438-4415; diane_hinton@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | BSC
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| Issuer: | Bear Stearns Cos. LLC (The)
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| GICS: | Investment Banking & Brokerage (40203020)
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured Finance
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| Country: | United States
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| Region: | United States
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