Standard & Poor's Corp. is keeping a close eye on two lawsuits against Bankers Trust New York Corp. over its derivatives sales practices, but the agency is not yet contemplating any ratings action.

Tanya Azarchs, a director of S&P's financial institutions group, said at a briefing for journalists on Wednesday that the rating agency would not downgrade Bankers Trust's debt before the outcome of the lawsuits is known.

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