| Abstract: | NEW YORK (Standard&Poor's) Sept. 23, 2008--Standard&Poor's Ratings Services said today that it lowered the counterparty credit and debt issue ratings on Lehman Brothers Inc. to 'D'. At the same time, we removed these ratings from CreditWatch, where they were placed with developing implications on Sept. 15 following the filing of Lehman Brothers Holdings Inc. (LBHI) for Chapter 11 bankruptcy protection. "The rating action followed the granting of a court order to Securities Investor Protection Corp. commencing a liquidation proceeding against Lehman Brothers Inc.," said Standard&Poor's credit analyst Scott Sprinzen. Lehman Brothers Inc. is LBHI's principal U.S. broker-dealer subsidiary.
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| Brief Excerpt: | RESEARCH Ratings Definitions Lehman Brothers Inc. Ratings Now 'D'; Liquidation Proceeding Begins For Lehman Bros. Holdings Publication date: 23-Sep-2008 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.c...
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| Report Type: | Ratings Action
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| Ticker: | 8011Z
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| Issuer: | Lehman Brothers Inc.
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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, Corporations, Financial Institutions, Global Issuers, Insurance, Public Finance, Real Estate Companies, Residential MBS, Structured Finance, Utilities
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| Country: | United States
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| Region: | United States
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