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Article: USA: MOODY'S LOWERS RATINGS OF LEHMAN BROTHERS; WILL WITHDRAW RATINGS.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- December 8, 2008
CopyrightCOPYRIGHT 2008 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service downgraded the senior ratings of Lehman Brothers Holdings Inc. ("LBHI"), and those of certain guaranteed subsidiaries, to C from B3. The firm's subordinated debt was downgraded to C from Caa2, and its preferred stock to C from Ca. The senior long-term rating of Lehman Brothers Inc. was lowered to Ca from B1 and subordinated debt to C from B3. The short-term ratings for all rated Lehman entities are Not-Prime. This rating action concludes the review of Lehman's long-term ratings. Moody's will subsequently withdraw the ratings within the next few days. On September 15, Moody's downgraded Lehman's ratings and placed them on review for ...