Standard & Poor's Ratings Services has revised the outlook for Bear Stearns & Co. from stable to negative in a move the Wall Street firm said it is "disappointed" with.S&P cited Bear's "high degree of reliance on the U.S. mortgage and leveraged finance sectors" in its outlook revision. Bear Stearns said the concerns in these areas "are common to the industry and are not likely to have a disproportionate impact" on the company. "All other major rating agencies have affirmed their stable or positive outlook on Bear Stearns," the Wall Street firm said. S&P can be found on the Web at http://www.standardandpoors.com.
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