by Calculated Risk on 9/09/2008 02:11:00 PM

From S&P (no link):

Standard & Poor's Ratings Services said today that it placed ... Lehman Brothers ... on CreditWatch with negative implications.

"The CreditWatch listing stems from heightened uncertainty about Lehman's ability to raise additional capital, based on the precipitous decline in its share price in recent days," said Standard & Poor's credit analyst Scott Sprinzen. "Although the ratings ultimately could be affirmed, we do not currently rule out the possibility of lowering the ratings by more than one notch."

Meanwhile Lehman stock is off 36% right now. (WaMu off 24%)