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S&P Credit Research859 word report
published Sep 09, 2008
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S&P Credit Research
| Abstract: | On Sept. 9, 2008, Standard&Poor's Ratings Services revised its outlook on Washington Mutual Inc. (WAMU) and Washington Mutual Bank to negative from stable. At the same time, we affirmed the 'BBB-' long-term and 'A-3' short–term counterparty credit ratings on WAMU and the 'BBB' long-term and 'A-2' short-term counterparty credit ratings on Washington Mutual Bank. The outlook revision reflects the increasingly challenging housing and mortgage markets and their impact on WAMU's core mortgage franchise. Also, WAMU faces additional regulatory scrutiny in the form of a memorandum of understanding (MOU) with its primary regulator, the Office of Thrift Supervision. While the MOU does not place any operating restrictions on WAMU or call for additional capital or liquidity, it highlights the
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Washington Mutual Inc. Outlook Revised To Negative From Stable; Ratings Affirmed Publication date: 09-Sep-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandp...
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| Report Type: | Research Update
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| Ticker: | WM
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| Issuer: | Washington Mutual, Inc.
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| GICS: | Thrifts & Mortgage Finance (40102010)
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Financial Institutions, Global Issuers, Public Finance, Residential MBS, Structured Finance
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| Country: | United States
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| Region: | United States
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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.
Also from S&P Credit Research
- Washington Mutual Inc Downgraded To 'CCC' From 'BB-'; WAMU Bank 'BBB-/A-3' Affirmed $100.00
NEW YORK (Standard&Poor's) Sept. 24, 2008--Standard&Poor's Ratings Services said today that it lowered its counterparty credit rating on Washington Mutual Inc. (WAMU) to 'CCC/C' from 'BB-/B'. At the same time, we affirmed the 'BBB-/A-3' counterparty ...
- Research Update: Washington Mutual Inc. Rating Cut To 'CCC' From 'BB-'; Bank Subsidiary 'BBB-/A-3' Affirmed $175.00
On Sept. 24, 2008, Standard&Poor's Ratings Services lowered its counterparty credit rating on Washington Mutual Inc. (WAMU) to CCC/C' from 'BB-/B'. At the same time we affirmed the 'BBB-/A-3' counterparty credit rating on Washington Mutual ...
- Bulletin: Washington Mutual Inc. Ratings Unaffected By TPG's Waiver Of Antidilution Rights $100.00
NEW YORK (Standard&Poor's) Sept. 18, 2008--Standard&Poor's Ratings Services said today that its ratings on Washington Mutual Inc. (BB-/Negative/B) are unaffected by TPG Funds' waiver of its antidilution provision on future WAMU common stock ...
- Washington Mutual Inc. Downgraded To 'BB-/B' From 'BBB-/A-3'; Outlook Negative $100.00
NEW YORK (Standard&Poor's) Sept. 15, 2008--Standard&Poor's Ratings Services said today that it lowered its counterparty credit rating on Washington Mutual Inc. (WAMU) to 'BB-/B' from 'BBB-/A-3'. We also lowered our rating on Washington Mutual ...
- Research Update: Washington Mutual Inc. Rating Lowered To 'BB-/B' From 'BBB-/A-3'; Outlook Negative $175.00
On Sept. 15, 2008, Standard&Poor's Ratings Services lowered its counterparty credit rating on Washington Mutual Inc. (WAMU) to 'BB-/B' from 'BBB-/A-3'. We also lowered our rating on Washington Mutual Bank to 'BBB-/A-3' from 'BBB/A-2'. The outlook ...
- Bulletin: Washington Mutual Inc. Rating Unaffected By Updated Pending Third-Quarter Results $100.00
NEW YORK (Standard&Poor's) Sept. 12, 2008—Standard&Poor's Ratings Services said today that Washington Mutual Inc.'s (WAMU; BBB-/Negative/A-3) update on its pending third-quarter results does not change our ratings on the company at this time, ...
- Washington Mutual Inc. Ratings Affirmed; Outlook Revised To Negative From Stable $100.00
NEW YORK (Standard&Poor's) Sept. 9, 2008--Standard&Poor's Ratings Services today said it revised its outlook on Washington Mutual Inc. (WAMU) and Washington Mutual Bank to negative from stable. At the same time, we affirmed the 'BBB-' long-term ...
- Washington Mutual Inc. Downgraded, Removed From CreditWatch; Outlook Stable $100.00
NEW YORK (Standard&Poor's) July 23, 2008--Standard&Poor's Ratings Services said today that it lowered its counterparty credit rating on Washington Mutual Inc. (WAMU) to 'BBB-/A-3' from 'BBB/A-2' and removed all ratings from CreditWatch Negative ...
