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S&P Credit Research411 word report
published Sep 18, 2008
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Abstract: 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 issuance. On Sept. 17, WAMU filed an SEC schedule 13d/A notice that its major investor, TPG Inc., had agreed to waive the provision in its investment agreement with WAMU that would have required WAMU to make up to TPG the effects of any dilution resulting from any new stock issuance exceeding $500 million and at a stock price below $8.75 per share, or from the thrift holding company selling itself for a price less than this. This news, combined with market reports that
Brief Excerpt: RESEARCH Ratings Definitions Bulletin: Washington Mutual Inc. Ratings Unaffected By TPG's Waiver Of Antidilution Rights Publication date: 18-Sep-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors.co...
Report Type: News
Ticker: WMIssuer: Washington Mutual, Inc.GICS: Thrifts & Mortgage Finance (40102010)Sector: Financial Institutions, Global Issuers, Residential MBS, Structured FinanceCountry: United StatesRegion: United StatesFree Sample: Click
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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 ...
S&P Credit ResearchS&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.
