S&P Puts Merrill Lynch on CreditWatch Negative
On Aug. 15, 2002 Standard & Poor's Ratings Services placed the long-term (AA-) and short-term (A-1+) credit ratings of Merrill Lynch & Co. on CreditWatch with negative implications. This rating action is due to the deteriorating environment for the profitability of all investment banks, says S&P analyst Tom Foley.
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