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Washington Mutual - Grösste Sparkasse der USA! Chancen & Risiken. (Seite 216)

WKN: A1JV64 | Symbol: WMIH
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WaMu’s credit rating cut again; retail bank strong, expert says
Atlanta Business Chronicle

Washington Mutual suffered another blow Wednesday when Standard & Poor’s Ratings Services downgraded the embattled Seattle-based bank’s creditworthiness yet again, saying the sale of the bank as a whole unit might not be likely or possible.

WaMu’s stock plunged 29.4 percent, ending at $2.26. The news follows a turbulent week for WaMu in which the company was paired in news reports with multiple potential purchasers, including J.P. Morgan Chase, Citigroup and Toronto-Dominion Bank of Canada.

According to S&P, the downgrade on WaMu’s “counterparty credit rating” from BB-/B to CCC/C was made “due to the increased likelihood that a potential sale of the company may not involve the whole company, which increases the risk of default for holding company creditors.”

Both the prior rating and the new lower one are considered “junk” status, and apply to the holding company. S&P said it affirmed its ‘BBB-/A-3’ counterparty credit rating on Washington Mutual Bank “because of the breadth of its retail franchise.”

In a written response, WaMu said that its deposit rating from S&P continued to be investment grade “and it is important to note that Standard & Poor’s rating actions do not affect the safety of customer deposits, which are insured up to the limits allowed by the FDIC.”

The bank has made a big push over the past week to reassure customers, some of whom — according to one branch employee — have been withdrawing money from the bank in the Seattle area because of concerns about its safety.

S&P, noting press reports that banking regulators may intervene in a sale, said it’s possible WaMu might not be acquired in its entirety.

“If this is the case, holding company creditors face losses, because the assets of the holding company are not sufficient to cover the full repayment of the $14.4 billion of rated unsecured debt outstanding,” according to S&P.

Standard & Poor’s Credit Analyst Victoria Wagner, who issued the statement, could not immediately be reached for comment.

Because of the stresses facing financial institutions, S&P pointed out that the available pool of large bank acquirers that “are not capital constrained or devoid of their own mortgage credit stress is quite small,” which means there’s only a slim possibility that WaMu would be purchased as a whole unit.

Alan Hess, professor of finance and business economics at the University of Washington’s Foster School of Business, pointed out that the company would be quite strong if it weren’t operating under the weight of so many bad loans.

In addition to its capital levels, which meet regulatory requirements, Hess points toward the bank’s income generated from interest on loans and revenue from sales and servicing of mortgages and consumer loans.

That combined number, he said, minus WaMu’s expenses, was a “strong” $454 million in the second quarter. “It’s an efficient originator of loans, servicer of loans and collector of deposits,” said Hess.

But taking into account the company’s provision of $5.9 billion for loan losses in the second quarter, the company’s strength is diminished, said Hess.

“This is a healthy company except for the bad loans,” he said.
Antwort auf Beitrag Nr.: 35.272.980 von The_Future_Is_Now am 25.09.08 15:40:28o mein gott wenn das meine frau wüsste

Du solltest vielleicht das Geld nehmen und mit deiner Frau essen gehen oder in den Uralub fliegen und den Rest aufs Sparbuch tun.
Antwort auf Beitrag Nr.: 35.273.630 von Sportsfreund am 25.09.08 16:08:52Mensch...bleib... RUHIG !!!

BERNIE...BEN B. spricht um 18.00 UHR bis dahin RUHIG BLUT !!!
Da wird bestimmt über d. Rettungspaket (d.700 M.) gesprochen...
Kann mir schlecht vorstellen d. "ER" nur BLA,BLA, BLA v. sich
gibt !!!

Antwort auf Beitrag Nr.: 35.273.741 von frankinvestor am 25.09.08 16:14:21das heißt jetzt kaufen wäre sinnvoll für dich?
Antwort auf Beitrag Nr.: 35.273.741 von frankinvestor am 25.09.08 16:14:21Mensch...bleib... RUHIG !!!

Ich muss schon schmunzeln, wenn einer der wie ein Fisch in der Pfanne zappelt und minütlich hier postet (oh 1% hoch, oh 1% runter, heute hopps, morgen mopps, smilies ohne ende....), zu einem, der in den letzten Monaten gerade mal ein paar (sachliche) Beiträge hier geschrieben hat, den obrigen Satz sagt...

Börsenkultur, wo bleibst du?
Antwort auf Beitrag Nr.: 35.274.128 von Sportsfreund am 25.09.08 16:31:27i frag noch mal wär jetzt ein guter einstiegspunkt?
Antwort auf Beitrag Nr.: 35.274.219 von The_Future_Is_Now am 25.09.08 16:36:07i frag noch mal wär jetzt ein guter einstiegspunkt?

Wer soll dir diese Frage beantworten?

Antwort auf Beitrag Nr.: 35.274.291 von Datteljongleur am 25.09.08 16:39:36:laugh::laugh::laugh:
Antwort auf Beitrag Nr.: 35.274.219 von The_Future_Is_Now am 25.09.08 16:36:07Ich würde mit 50% jetzt rein gehen! Obwohl das wie mein Vorredner schon erwähnt hat, keiner so genau schätzen kann. Aber das nutzt ja nix, man muss ja eine Entscheidung treffen. Daher zuerst 50% und dann schauen, wie der Kurs sich entwickelt. Immer mit SL bei 10-20% Abgang würde ich dann auch wieder schmeißen!

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