Report title: The Bear Stearns Cos. Inc. Downgraded; Ratings Placed On CreditWatch Negative
from S&P Credit Research
published Mar 14, 2008

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NEW YORK (Standard&Poor's) March 14, 2008--Standard&Poor's Ratings Services said today that it lowered its long-term counterparty credit rating on The Bear Stearns Cos. Inc. (Bear) to 'BBB' from 'A' and its short-term rating to 'A-3' from 'A-1'. At the same time, we placed the long- and short-term ratings on CreditWatch with negative implications. "The rating action follows Bear's announcement that its liquidity position has substantially deteriorated in the past 48 hours. The severe impairment of Bear's liquidity has resulted in the negotiation of a 28-day, Fed-backed secured loan facility with JP Morgan Chase that is designed to ease Bear's liquidity pressures until it can implement a longer term funding structure," said Standard&Poor's credit analyst

Report Type: Ratings Action
Ticker: BSC
Issuer: Bear Stearns Cos. LLC (The)
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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