Thursday, 26 February 2009

S&P Conference Call on Downgrade on Banks' Hybrid Securities

This is the text of a Standard and Poor's press release about a conference call to discuss the recent downgrades of banks' hybrid capital securities.

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Standard & Poor's Ratings Services will hold a telephone conference call on Friday, March 6, 2009, at 10 a.m. EST/3 p.m. GMT. Speakers will discuss the recent downgrades of financial institution hybrid capital securities and explain how Standard & Poor's assesses the risk of payment deferral on these instruments. The speakers will also discuss how Standard & Poor's assesses capitalization (Adjusted Total Equity vs. Tangible Common Equity vs. Tier 1) and comment on the "equity credit" that is attributed to preferred stock that banks and insurers are issuing to governments under capital-strengthening programs.

The call will be hosted by members of the Standard & Poor's New Instruments Committee (NIC): Gail I. Hessol, Scott Bugie, Michelle Brennan, and Scott Sprinzen. Upon conclusion of the prepared remarks, NIC members and financial institution analysts from Standard & Poor's U.S. and European ratings teams will join our presenters to address your questions.


Relevant articles are available on our public website: www.events.standardandpoors.com. To access them from that Web site, select Teleconferences from the drop-down menu for Type, and click on the link for this teleconference.


Please note that Standard & Poor's offers all of its broadcast teleconference calls to all interested participants on a complimentary basis. The call will begin promptly at the time indicated. Please call at least 15 minutes before the scheduled start of the call to complete the pre-call registration process.


Live Dial-in Numbers:

U.S./All Others: 1-210-839-8781

U.K.: 44-20-7108-6390

Conference ID#: 5478954

Passcode: SANDP

Replays: Recorded replays of the call are made available about an hour after the call concludes and are available until Friday, March 13, 2009.

Replay number: 1-402-220-9685

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