The Standard & Poor's credit rating agency said it would not be changing its outlook, partly as it recently downgraded its ratings on Lehman. "Lehman has maintained a very stable funding profile in a challenging environment," Standard & Poor's said. The bank's revenues have slowed markedly in recent months and Lehman said it had had to mark down the value of some of its assets as well as absorbing some trading losses during the quarter. Lehman has cut its exposure to mortgage-backed securities and large real estate investments as it vies to stem its losses. Underlying reduced mergers and acquisitions activity, Lehman said its investment banking revenues had likely moderated to $US900 million ($A940.44 million) during the quarter compared with $US1.2 billion ($A1.25 billion) a year ago.