Fitch affirms Lehman

Fitch Ratings said it affirmed the AA-/F1+ long- and short-term issuer default ratings of Lehman Brothers Holdings Inc. and its subsidiaries as indicated below.

Fitch said it has also revised Lehman's outlook to negative from stable.

According to the agency, ratings for Lehman reflect a globally diversified franchise in equity and fixed income sales and trading, improved market share in investment banking and a growing asset management business.

Fitch added that it most recently upgraded the issuer default rating in June 2007 due to improved revenue and business diversification, improvements in funding structure and capital build.

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