Fitch affirms Bear Stearns

Fitch Ratings said it affirmed the Bear Stearns Cos. Inc.'s ratings at long-term issuer default A+, senior A+, subordinated A, preferred A, short-term issuer default F1+, short-term debt F1+, individual B, support 5 and support no floor.

The outlook is stable.

Fitch said the ratings reflect Bear Stearns' solid franchises in global clearing and prime brokerage and consider prudent management of liquidity, funding and capital.

The outlook reflects Fitch's expectation, the agency said, that annual revenue and earnings growth can be resumed without assuming a higher risk threshold or incurring disproportionately greater leverage.

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