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S&P Credit Research1032 word report
published Sep 15, 2008
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S&P Credit Research
| Abstract: | 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 is negative. Increasing market turmoil and the related impact from managing its concentrated mortgage franchise in this troubled housing and credit cycle led to the downgrade of WAMU. The company's weak equity pricing in the markets is also a concern, and it increasingly appears that market conditions could overtake credit fundamentals and leave the company with greatly diminished financial flexibility. On a more positive note, we recognize that WAMU's holding company liquidity position is currently solidly positioned to meet all of its
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Washington Mutual Inc. Rating Lowered To '##-/B' From '###-/A-3'; Outlook Negative Publication date: 15-Sep-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardan...
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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 ...
- 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 ...
- Research Update: Washington Mutual Inc. Outlook Revised To Negative From Stable; Ratings Affirmed $175.00
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 ...
- 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 ...
