Lehman Brothers Ratings Remain On Watch Negative After It Announces Third-Quarter Loss - 2008/09/10 - S&P Credit Research

Report title: Lehman Brothers Ratings Remain On Watch Negative After It Announces Third-Quarter Loss

from S&P Credit Research
669 word report published Sep 10, 2008

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Abstract:

NEW YORK (Standard&Poor's) Sept. 10, 2008--Standard&Poor's Ratings Services' said today that its ratings, including the 'A' long-term and 'A-1' short-term counterparty credit ratings, on Lehman Brothers Holdings Inc., and ratings on all related entities remained on CreditWatch, where they were placed with negative implications on Sept. 9. "We will continue to monitor the company for a possible downgrade following Lehman's just-announced larger-than-expected third-quarter loss and proposed asset sales to boost capital and reduce certain troubled asset exposures," said Standard&Poor's analyst Scott Sprinzen. Lehman's expected loss for the quarter ended Aug. 31, 2008-–a pretax loss of $7.2 billion (adjusted for debt valuation gains)-–is significantly larger than we had assumed as of June 2, 2008, when

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RESEARCH Ratings Definitions Lehman Brothers Ratings Remain On Watch Negative After It Announces Third-Quarter Loss Publication date: 10-Sep-2008 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com...

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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