NEW YORK (Standard&Poor's) Sept. 16, 2008--Standard&Poor's Ratings Services said today that it has lowered its principal stability fund rating on the Reserve Funds - Primary Fund, Reserve International Liquidity Fund Ltd., and the Colorado Diversified Trust (CDT) to 'Dm' from 'AAAm' due to exposure to defaulted Lehman Brothers Holdings Inc. commercial paper. Additionally, Standard&Poor's has placed on CreditWatch with negative implications the ratings on nine other Reserve Funds (see list below) and has withdrawn their ratings, as CDT will cease to exist effective tomorrow, Sept. 17, 2008. With the exception of the three funds, which paid out less than $1.00...
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