According to MarketWatch Standard & Poor’s lowered the credit rating on Bear Stearns (BSC) to A from A+, and said the outlook is negative. "The rating action follows Bear Stearns’ announcement that it would take a fourth-quarter writedown on its CDO and subprime exposure of $1.2 billion, which will result in the company’s first quarterly loss in its history," said Standard & Poor’s credit analyst Diane Hinton.
Douglas A McIntyre
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