Bangkok--14 Dec--Standard & Poor's The Federal Reserve, in a broadly expected move, lowered the target federal funds rate by 25 basis points to 4.25% at the Dec. 11 meeting, according to an article published today by Standard & Poor's. The report, titled "U.S. Credit Comment: Federal Reserve Move Not Enough For Investors (Premium)," said that the Fed's move failed to encourage the market, which had priced in a half percentage point cut, and all major equity indices fell sharply. "Investors continued to seek the safety of Treasuries, with both the short-term and long-term yields posting sharp declines," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "Moreover, bond spreads widened as risk aversion remains elevated in the credit market, and it may take more rate cuts or some positive economic news to increase risk appetite." The report is available to RatingsDirect subscribers who have upgraded their package to include the Global Fixed Income Research add-on. RatingsDirect is the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. If you are not a RatingsDirect subscriber with the Global Fixed Income Research add-on, please contact your local Standard & Poor's representative or [email protected] for further information. Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. Members of the media may request a copy of this report by contacting the media representative provided. Media Contact: Mimi Barker, New York (1) 212-438-5054, [email protected] Analyst Contact: Diane Vazza, New York (1) 212-438-2760 Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com. Key Contacts: Americas Media Relations: (1) 212-438-6667 media_ [email protected] Americas Customer Service: (1) 212-438-7280 [email protected]