0.13%SPY 128.17 
0.54%WM 4.65 20.10%
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NEW YORK - Credit rating agency Standard & Poor's Ratings Services on Monday said it is reviewing the ratings of Bear Stearns Cos. Inc. after the beleaguered investment bank sold itself at a massive discount to JPMorgan Chase & Co.
S&P put Bear on CreditWatch with developing implications. It had put Bear on CreditWatch with negative implications only last Friday. At the same time S&P affirmed a "AA-" long-term counterparty credit rating on JPMorgan.
S&P said Bear could face more ratings pressure if the deal does not close, but could be upgraded if it does.
Bear Stearns agreed Sunday to a sale to JPMorgan Chase & Co. at the equivalent of $2 per share. The stock closed at $30 on Friday and Bear Stearns said last week its book value per share was in the mid-$80s range.
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