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S&P Credit Research6301 word report
published Jan 06, 2009
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S&P Credit Research
| Abstract: | By any measure, the U.S. banking industry has endured extraordinary shocks in 2008 that we expect to reverberate through the sector for years to come. Heading into 2009, startling systemic events have shaken the financial services industry. Among these are the bankruptcy of Lehman Brothers Holdings Inc., the forced sales of Bear Stearns&Co. Inc. and Wachovia Corp., Citigroup Inc.'s government support package, and the regulatory seizure and sale of Washington Mutual Inc. Heading into 2009, although the banking industry is confronting liquidity and confidence challenges, it now has in place financial support from the U.S. government, including programs offering capital injections and debt guarantees. These are highly meaningful, system-stabilizing influences, but in Standard&Poor's Ratings Services' view,
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| Brief Excerpt: | RESEARCH Ratings Definitions U.S. Banking Industry Outlook 2009: A Year Of Falling Credit Quality But Greater Government Support Publication date: 06-Jan-2009 Primary Credit Analysts: Barbara Duberstein, New York (1) 212-438-5656;...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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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.
