The Federal Reserve Bank of New York has completed financing arrangements to facilitate J.P. Morgan Chase & Co.’s acquisition of Bear Stearns Companies Inc.The New York Fed has extended a $28.82 billion loan, and J.P. Morgan Chase has extended a $1.15 billion loan, to a Delaware limited liability company. The LLC, which will be consolidated […]
Fitch Ratings has affirmed the rating on J.P. Morgan Chase & Co. (JPM), with a stable trend, citing the firm’s diversified revenue mix and emphasis on strong balance sheet fundamentals.These strengths have largely offset market headwinds in the credit and capital markets, Fitch says. “JPM’s comparatively limited exposure to many structured products has clearly benefited […]
Investment banking division hit hardest
Share swap now complete
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 […]
Revised terms hike price to US$10 a share
Ratings agency to upgrade debt ratings of Bear Stearns following takeover
Ailing investment bank sold for US$2 a share
Weak U.S. economy will negatively affect business volumes and drive credit costs higher in 2008
The investment bank has hired 50 people to help with its strategy of building out five major businesses