Fitch Rates Jefferies Group, Inc.'s Convertible Senior Notes 'BBB'

Fri. October 23, 2009; Posted: 10:02 AM

NEW YORK, Oct 23, 2009 (BUSINESS WIRE) -- JEF | Quote | Chart | News | PowerRating -- Fitch rates Jefferies Group, Inc.'s convertible senior notes due Nov. 1, 2029 'BBB'. These fixed-rate obligations are unsecured obligations, ranking equally with other unsecured senior indebtedness. Proceeds of the new issues will be used for general corporate purposes. Fitch recently affirmed Jefferies' ratings on June 17, 2009. For additional information, refer to Fitch's most recent credit analysis dated Sept. 17, 2009 on Fitch's web site at www.fitchratings.com. A complete list of ratings is shown below:

Jefferies Group, Inc.

--Long-term Issuer Default Rating (IDR) 'BBB';

--Short-term IDR 'F2';

--Senior debt 'BBB';

--Short-term debt 'F2';

--Subordinated debt 'BB+'.

The Rating Outlook is Negative.

Jefferies, a Delaware-incorporated holding company, is a well-established full service investment bank and institutional securities firm serving middle-market clients and investors. Its primary broker/dealer operating subsidiary, Jefferies & Company, Inc., holds the vast majority of the firm's consolidated assets and is regulated by the SEC. On March 31, 2009 Jefferies had U.S. GAAP total assets of $21.3 billion, shareholders' equity (excluding non-controlling interests) of $2.1 billion and net income of $38.4 million.

Additional information is available at www.fitchratings.com.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

SOURCE: Fitch Ratings

Fitch Ratings, New York 
Leslie Bright, +1-212-908-0622 
Sharon Haas, +1-212-908-0362 
Media Relations: 
Brian Bertsch, +1-212-908-0549 
brian.bertsch@fitchratings.com

For full details on Jefferies Group Inc (JEF) click here. Jefferies Group Inc (JEF) has Short Term PowerRatings of 5. Details on Jefferies Group Inc (JEF) Short Term PowerRatings is available at This Link.

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