Bear Stearns woes affect A$3 billion-plus Roos
- Tuesday, 18 March 2008
The bailout of Bear Stearns (BBB/Baa1/A-) by J.P. Morgan Chase (AA-/Aa2/AA-) (J.P. Morgan) will have a direct impact on over A$3 billion (US$2.76 billion) of Kangaroo bonds from the two issuers, although Bear Stearns' paper may emerge from the trauma with an upgraded rating.
