IndyMac Files for Bankruptcy

IndyMac Bancorp Inc., Pasadena, Calif., has filed for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Central District of California. The company made the announcement in a Securities and Exchange Commission filing. John Bovenzi, chief executive of IndyMac Federal Bank FSB, the conservatorship created when the Federal Deposit Insurance Corp. seized the thrift, put out a statement saying, "The announcement by the former holding company of IndyMac Bank has no impact on IndyMac Federal Bank or its customers. Our customers will continue to receive the same value and personal service they have come to expect from IndyMac, which, due to its FDIC backing is one of the safest banks in America and a great place for our customers to keep their funds." Fitch Ratings downgraded IndyMac Bancorp's Issuer Default Rating to D and said it would withdraw its ratings of the company in 30 days. IndyMac can be found online at http://www.indymacbank.com.