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Lehman to report lower 2nd-quarter leverage ratios: source

NEW YORK | Wed Jun 4, 2008 12:02pm EDT

NEW YORK (Reuters) - Lehman Brothers Holdings Inc has been deleveraging and is expected to report lower leverage ratios in the second quarter, a person familiar with the matter said on Wednesday.

Lehman is expected to report second-quarter net leverage ratio of about 12.5 times versus 15.4 times in the first quarter, the source said. Its gross leverage is expected to be about 24.5 times versus 31.7 times in the first quarter, the source said.

Gross leverage ratio is total assets divided by total stockholders' equity, while net leverage ratio is net assets divided by tangible equity capital.

(Reporting by Paritosh Bansal; editing by Jeffrey Benkoe)
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