Abstract: On March 14, 2008, Standard&Poor's Ratings Services 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. Bear has been experiencing significant stress in the past week because of concerns

Brief Excerpt: RESEARCH Ratings Definitions Research Update: The Bear Stearns Cos. Inc. Ratings Lowered And Placed On CreditWatch Negative Publication date: 14-Mar-2008 Primary Credit Analyst: Diane Hinton, New York (1) 212-438-4415; diane_hinton@standardandpoors.com...

Report Type: Research Update
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, Corporations, Financial Institutions, Global Issuers, Insurance, Public Finance, Residential MBS, Structured Finance
Country: United States
Region: United States
Free Sample: Click Here to Download

Enter the keyword(s) which you would like to search for within this document and click "Search"

 

 S&P Credit Research
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.