Bear Stearns says S&P outlook change unwarranted

(Reuters) - "S&P's specific concerns over issues relating to certain hedge funds managed by are unwarranted as these were isolated incidents and are by no means an indication of broader issues at Bear Stearns," the company said.




S&P earlier on Friday changed its outlook on Bear's debt to "negative" from "stable," which means it is more likely to cut Bear's ratings over the next year or two.


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