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J.P. Morgan Chase & Co. increased offer for Bear Stearns Cos. may have pleased some shareholders, but it also caught the eye of credit ratings agency Standard & Poor's. The New York-based debt rating agency upgraded its credit ratings on Bear five notches to AA- from BBB based on the revised deal.
"The price increase and the anticipated increase in the amount of shares controlled by J.P. Morgan raise the probability that the deal will be completed," S&P said in a statement. "On its own, Bear Stearns' viability is uncertain." The upgrade is a money saver for Bear because a higher rating translates to potentially lower rates for financing from lenders. - Gerald Magpily See TheDeal.com: J.P. Morgan quintuples Bear price Categories Deal Video
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