On March 20, 2008, Standard&Poor's Ratings Services affirmed its 'A+/A-1' counterparty credit ratings on Credit Suisse Group (CSG) and its 'AA-/A-1+' counterparty credit ratings on its related entities. At the same time, the long-term counterparty credit rating on CSG was removed from CreditWatch, where it had been placed with negative implications on Feb. 19, 2008. Furthermore, the long- and short-term counterparty credit ratings on Credit Suisse and related entities were removed from CreditWatch, where they had been placed with negative implications on Feb. 19, 2008. The outlook on these entities is negative. These rating actions follow CSG's announcement today that it has concluded its review of the collateralized debt obligation (CDO)-related losses it disclosed on Feb. 19, 2008.
