Fitch: State Street on watch

Fitch Ratings said it placed State Street Corp. and its affiliates on rating watch negative following the company's announcement that unrealized losses in its investment portfolio have increased substantially over the last quarter.

The agency said that the watch status signals the potential that State Street may be required over the next few quarters to recognize a significant portion of the market value decline in its investment portfolio.

Affected ratings include State Street's long-term issuer default rating at AA-, long-term senior AA- and short-term issuer default rating F1+.

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