Advertise On EU-Digest

Annual Advertising Rates

6/2/08

WSJ.com: US economic meltdown -- S&P Slashes Ratings of Big US Banks - by Kathu Shwiff

For the complete report from the WSJ.com click on this link

S&P Slashes Ratings of Big Banks - by Kathu Shwiff

Standard & Poor's cut its ratings on Lehman Brothers Holdings Inc., Merrill Lynch & Co. Inc. and Morgan Stanley as the credit rater called attention to the risks in how they typically finance their operations and warned that the firms have overused hybrid securities as a means of raising capital.

S&P also increased the likelihood of potential cuts at Bank of America Corp. and J.P. Morgan Chase & Co. as write-downs continue to loom.

No comments: