S&P: Lehman has solid credit

Standard & Poor's said its A/negative/A-1 counterparty credit rating on Lehman Brothers Holdings Inc. continues to reflect the company's credit fundamentals, which include a solid liquidity and funding profile.

The agency noted that the persistent and ongoing pressure on Lehman's stock price in recent days has not had negative effects on Lehman's liquidity, funding or client business.

The firm's management continues to successfully implement a number of measures, including strengthening its funding platform, reducing exposure to troubled assets and increasing capital, to ensure the maintenance of sound liquidity and the ability to meet funding obligations, the agency added.

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