S&P updates SIV ratings

02/26/2008 | Wall Street Journal, The

Many banks have offered liquidity support to their SIVs, and their ratings by Standard and Poor's have remained relatively unchanged. The ratings on seven of Citigroup's SIVs were affirmed by the ratings agency, as well as the Nightingale SIV, which is backed by American International Group. S&P lowered the ratings on several SIVs, however, including Standard Chartered's Whistlejacket. Last week, the bank withdrew its proposed rescue of the SIV.

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