Abstract: NEW YORK (Standard&Poor's) Sept. 15, 2008--Standard&Poor's Ratings Services today lowered its rating on Lehman Bros. Treasury Co. B.V.?s $4 million inflation-linked and credit-linked variable-interest notes to 'CC' and removed it from CreditWatch with negative implications, where it was placed Aug. 15, 2008 (see list). The rating on the notes is based on the lower of the rating on Lehman Bros. Holdings Inc. and the rating corresponding with the credit enhancement available to support the rated notes. The rating action follows Standard&Poor's lowering of the long-term counterparty credit rating on Lehman Bros. Holdings Inc. to 'SD' (selective default) (See "Lehman Bros. Holdings Downgraded To 'Selective Default'; Other Lehman Entities To 'BB-' Or 'R'," published Sept.

Brief Excerpt: RESEARCH Ratings Definitions Lehman Bros. Treasury Co. B.V.'s Inflation-Linked And Credit-Linked Notes Downgraded To '##' Publication date: 15-Sep-2008 Primary Credit Analyst: Ian Stewart, New York (1) 212-438-2931; ian_stewart@standardandpoors.com...

Report Type: News
Ticker: 1134Z@NA
Issuer: Lehman Brothers Treasury Co. B.V.
GICS: Investment Banking & Brokerage (40203020)
Sector: Asset-Backed Securities, Collateralized Debt Obligations, Financial Institutions, Global Issuers, Structured Finance
Country: Netherlands
Region: United States
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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.