S&P: Lehman now at D

Standard & Poor's said it changed its counterparty credit rating on Lehman Brothers Holdings Inc. to D from SD.

The agency said it also lowered its senior and subordinated debt issue ratings on Lehman, and the ratings on certain issues guaranteed by Lehman to D.

According to S&P, these rating actions follow its review of the company's bankruptcy filings and its anticipation that Lehman will default on all or substantially all of its obligations as they become due.

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