| Abstract: | NEW YORK (Standard&Poor's) Sept. 16, 2008--Standard&Poor's Ratings Services said today that it has lowered its principal stability fund rating on the Reserve Funds - Primary Fund, Reserve International Liquidity Fund Ltd., and the Colorado Diversified Trust (CDT) to 'Dm' from 'AAAm' due to exposure to defaulted Lehman Brothers Holdings Inc. commercial paper. Additionally, Standard&Poor's has placed on CreditWatch with negative implications the ratings on nine other Reserve Funds (see list below). The rating on Colorado Diversified Trust has been withdrawn, as CDT will cease to exist effective tomorrow, Sept. 17, 2008. With the exception of the three funds, which paid out less than $1.00 per share NAV (i.e. 'broke the dollar') outlined above, no
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| Brief Excerpt: | RESEARCH Ratings Definitions Two Reserve Money Market Funds & Colorado Diversified Trust Lowered to aÇÿDmaÇÖ; Others Watch Neg Publication date: 16-Sep-2008 Primary Credit Analyst: Peter Rizzo, New York (1) 212-438-5059; peter_rizzo@standardandpoors.com...
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| Report Type: | Ratings Action
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured Finance
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