Report title: Ratings On Lehman Brothers Treasury Co. B.V.'s Notes Lowered And Then Withdrawn
from S&P Credit Research
634 word report published Sep 30, 2008

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Abstract: LONDON (Standard&Poor's) Sept. 30, 2008—Standard&Poor's Ratings Services said today that it has lowered to 'D', removed from CreditWatch with negative implications, and then withdrawn its credit ratings on seven classes of notes issued by Lehman Brothers Treasury Co. B.V. (see ratings list). Today's rating actions follow our lowering and withdrawal of all credit ratings assigned to Lehman Brothers Treasury Co. and its guarantor Lehman Brothers Holdings Inc. (LBHI) on Sept. 25 (see "Research Update: Ratings On Lehman Brothers Holdings Inc. And All Related Entities Withdrawn"). All the notes affected by today's actions relied on LBHI to make principal and interest payments. Therefore, the ratings on the notes were weak-linked to LBHI. The related article referenced above

Brief Excerpt: RESEARCH Ratings Definitions Ratings On Lehman Brothers Treasury Co. B.V.'s Notes Lowered And Then Withdrawn Publication date: 30-Sep-2008 Surveillance Credit Analysts: Amit Sohal, London (44) 20-7176-3845; amit_sohal@standardandpoors.com...

Report Type: Ratings Action
Ticker: 1134Z@NA
Issuer: Lehman Brothers Treasury Co. B.V.
GICS: Investment Banking & Brokerage (40203020)
Sector: Asset-Backed Securities, Collateralized Debt Obligations, Financial Institutions, Global Issuers, Structured Finance
Country: Netherlands
Region: United States
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