Report title: Review Of Investment Bank Sector Sparks Mostly Negative Rating Actions
from S&P Credit Research
1050 word report published Jun 02, 2008

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Abstract: NEW YORK (Standard&Poor's) June 2, 2008--At the conclusion of its review of global universal and investment banks, Standard&Poor's Ratings Services lowered its ratings on Lehman Brothers Inc., Merrill Lynch&Co. Inc., and Morgan Stanley. Standard&Poor's also revised its outlooks on Bank of America Corp. and JPMorgan Chase&Co. to negative. In addition, Standard&Poor's affirmed its ratings on Citigroup Inc., removed the ratings from CreditWatch negative, and assigned a negative outlook. We also placed the ratings on Wachovia Corp. on CreditWatch negative. The outlooks on the large financial institutions sector in the U.S. are now predominantly negative. "The negative actions reflect prospects of continued weakness in the investment banking business and

Brief Excerpt: RESEARCH Ratings Definitions Review Of Investment Bank Sector Sparks Mostly Negative Rating Actions Publication date: 02-Jun-2008 Primary Credit Analysts: Tanya Azarchs, New York (1) 212-438-7365; tanya_azarchs@standardandpoors.com...

Report Type: News
Ticker: 8011Z
Issuer: Lehman Brothers Inc.
GICS: Investment Banking & Brokerage (40203020)
Sector: Global Issuers, Public Finance, Structured Finance
Country: United States
Region: United States
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