S&P rates Greater Bay convertibles BBB-

Standard & Poor's assigned a BBB- rating to Greater Bay Bancorp's offering of $200 million zero coupon convertible securities due 2022.

S&P puts Kamps on positive watch

Standard & Poor's put Kamps AG on CreditWatch with positive implications.

Ratings affected include Kamps' €660 million LYONs due 2015, €250 million 8% notes due 2005 and €325 million 8.5% notes due 2009, all rated BB, and its €400 million revolving credit facility due 2007 rated BB+.

S&P lowers Exide Technologies to D

Standard & Poor's downgraded Exide Technologies' corporate credit rating to D from CC following news of the company's filing for Chapter 11. Concurrently, the rating was removed from CreditWatch and the CC senior unsecured debt rating on Exide Holding Europe SA was affirmed and removed from CreditWatch. Exide's existing bank debt, senior notes and convertibles were cut to D from CC.

The company has arranged for $415 million in new financing, including $250 million debtor-in-possession financing. According to S&P, Exide Technologies currently has about $1.4 billion in outstanding debt.

S&P rates Lehman convertible A

Standard & Poor's assigned an A rating to Lehman Brothers Holdings Inc.'s $500 million floating-rate convertible notes due 2022.

S&P rates Salomon Motorola ELKS AA-

Standard & Poor's assigned an AA- rating to Salomon Smith Barney Holdings Inc.'s issue of $38.5 million 10.25% ELKS due 2003 linked to the common stock of Motorola, Inc.

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