The probability that J.P. Morgan Chase & Co. will complete its proposed acquisition of Bear Stearns Companies, Inc. has increased under the amended deal announced yesterday, says Fitch Ratings.That said, the rating agency has not modified its ratings of Bear Stearns, as significant risk to Bear Stearns debtholders remains if the transaction is not completed.Fitch […]
US$2 billion joint-venture
Bear, Stearns & Co. Inc. today announced that Jonathan Golub has joined the firm as a senior managing director and chief investment strategist.For six years before joining Bear Stearns, Golub was the U.S equity strategist at J.P. Morgan Asset Management where he also led its client portfolio management group. He was previously with Scudder Kemper […]
Firm is particularly vulnerable to adverse conditions in U.S. mortgage market, ratings agency says
Two businesses combined into single mortgage unit
Fitch Ratings has downgraded Bear Stearns Asset Management’s rating, and the Wall Street firm remains on Rating Watch Negative.The firm dropped BSAM’s structured finance collateralized debt obligation asset manager rating one notch. It said the rating action, “is a result of concerns stemming from recent significant changes made to the BSAM High Grade Structured Credit […]
Lane replace Marin as CEO
Financing will improve fund’s liquidity, reduce leverage
Bear Stearns will take over Encore Credit’s operating centers and it will also acquire selected portfolios of whole loans