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Wednesday, September 24, 2008

S&P cuts WaMu to 'poor quality'

by Calculated Risk on 9/24/2008 11:51:00 AM

From MarketWatch:

[S&P] ... lowered Washington Mutual Inc.'s counterparty credit rating to "poor quality" of CCC/C from BB-/B. "The downgrade was due to the increased likelihood that a potential sale of the company may not involve the whole company, which increases the risk of default for holding company creditors," said Victoria Wagner, an S&P credit analyst.
emphasis added
Is it Friday yet?