S&P lowers State Street (STT) - including its counterparty credit rating - one notch A+/A-1 from AA-/A-1+, reflecting both ongoing risks and the new risks STT outlined in its ominous 8-K filing - along with a more negative earnings outlook for 2009. Shares dived 59%, and are down another 3.6% AH to $14.35.
S&P lowers State Street (STT) - including its counterparty credit rating - one notch A+/A-1 from AA-/A-1+, reflecting both ongoing risks and the new risks STT outlined in its ominous 8-K filing - along with a more negative earnings outlook for 2009. Shares dived 59%, and are down another 3.6% AH to $14.35.
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