IndyMac Bancorp Inc.’s credit outlook was downgraded by Standard & Poor’s Ratings Services on Monday.

The Pasadena-based lender was downgraded to “Negative” from “Stable” based on concerns about its “exposure to continued deterioration in the housing and mortgage finance markets,” S & P; analyst Robert Hoban said in a statement.

Washington Mutual Inc. and Capital One Financial Corp. were also downgraded.

This announcement comes less than a week the lender reported a larger-than expected third-quarter loss of $203 million (-$2.77 per share). But shares rose more than 13 percent Nov. 6 due to the company’s optimistic outlook.

Despite the news, shares in IndyMac on Monday gained 5.1 percent to $11.68 in afternoon trading on the New York Stock exchange. However, its shares have lost 75 percent so far this year.