Lehman Brothers Holdings Inc. Downgraded To 'D' - 2008/09/16 - S&P Credit Research

Report title: Lehman Brothers Holdings Inc. Downgraded To 'D'

from S&P Credit Research
417 word report published Sep 16, 2008

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Abstract:

NEW YORK (Standard&Poor's) Sept. 16, 2008--Standard&Poor's Ratings Services said today that it changed its counterparty credit rating on Lehman Brothers Holdings Inc. (LBHI) to 'D' from 'SD'. We also lowered our senior and subordinated debt issue ratings on LBHI, and the ratings on certain issues guaranteed by LBHI to 'D'. These rating actions follow our review of LBHI's bankruptcy filings. "We anticipate that LBHI will default on all or substantially all of its obligations as they become due," said Standard&Poor's credit analyst Scott Sprinzen.

Brief Excerpt:

RESEARCH Ratings Definitions Lehman Brothers Holdings Inc. Downgraded To 'D' Publication date: 16-Sep-2008 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com Secondary Credit Analyst:...

Report Type:

Ratings Action

Ticker:

LEH

Issuer:

Lehman Brothers Holdings Inc.

GICS:

Investment Banking & Brokerage (40203020)

Sector:

Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured Finance

Country:

United States

Region:

United States

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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.

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