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S&P Credit Research2005 word report
published Sep 16, 2008
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S&P Credit Research
| Abstract: | The Chapter 11 filing of Lehman Brothers Holdings Inc. (LBHI; SD/--/SD) on Sept. 15, 2008, is a seismic event in the global financial markets. This article considers the implications of the filing for the European banking sector. In summary, the information that Standard&Poor's Ratings Services has received so far indicates that European banks' direct net exposures to LBHI and its subsidiaries are generally moderate and manageable. This conclusion principally reflects the widespread use of credit mitigation techniques such as netting, collateral management, and margin calls. A more significant factor is likely to be a fall in asset prices as Lehman entities unwind trading positions and manage down their balance sheets. This could lead to further material write-downs in
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| Brief Excerpt: | RESEARCH Ratings Definitions Lehman Brothers--Assessing The Immediate Consequences For European Banks Publication date: 16-Sep-2008 Primary Credit Analysts: Nick Hill, London (44) 20-7176-7216; nick_hill@standardandpoors.com Richard...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
