Fitch lowers Indymac

Fitch Ratings said it downgraded the short-term issuer default rating of Indymac Bancorp, Inc. and Indymac Bank F.S.B. to F3 from F2.

Also, Fitch said it has removed Indymac from rating watch negative and has assigned a negative outlook.

According to the agency, Indymac's removal from rating watch indicates that additional downgrades are not imminent as the company's primary liquidity sources remain largely intact after several months of credit market dislocation.

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