On Oct. 2, 2002, Standard&Poor's Ratings Services placed its single-'A'-plus long-term counterparty credit rating on Credit Suisse Group (CSG) on CreditWatch with negative implications. The 'A-1' short-term counterparty credit rating on CSG remains unchanged. At the same time, the double-'A'-minus long-term and 'A-1'-plus short-term counterparty credit ratings on CSG's primary bank operating entities (including Credit Suisse, Credit Suisse First Boston, and Credit Suisse First Boston (USA) Inc.), and the double-'A'-minus insurer financial strength and counterparty credit ratings on Winterthur Swiss Insurance Co., were also placed on CreditWatch with negative implications. The action followed the Switzerland-based financial services group's profit warning earlier today regarding its third-quarter results, which will be negatively affected by a significant net loss in the
