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S&P Credit Research703 word report
published Sep 24, 2008
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S&P Credit Research
| Abstract: | 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 credit rating on Washington Mutual Bank because of the breadth of its retail franchise. "The downgrade was due to the increased likelihood that a potential sale of the company may not involve the whole company, which increases the risk of default for holding company creditors," said Standard&Poor's credit analyst Victoria Wagner. We also lowered the preferred stock rating to 'CC' from 'B-' to reflect the incremental risk of default of these securities. The outlook remains negative. According to press
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| Brief Excerpt: | RESEARCH Ratings Definitions Washington Mutual Inc Downgraded To '###' From '##-'; WAMU Bank '###-/A-3' Affirmed Publication date: 24-Sep-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors.com...
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| Report Type: | Ratings Action
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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
- 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 ...
- Research Update: Washington Mutual Inc. Rating Lowered To 'BB-/B' From 'BBB-/A-3'; Outlook Negative $175.00
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 ...
- 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 ...
