Wednesday's Financial Winners & Losers

First Marblehead(FMD Quote) gained after the Boston-based credit services company said it expanded its private student-loan services agreement with a subsidiary of National City(NCC Quote). Shares of First Marblehead rose $1.14, or 2.2%, to $53.60.

American Real Estate Partners(ACP Quote) said it entered into a four-year senior secured revolving credit facility. Bear Stearns is the sole lead arranger. The facility provides for up to $150 million, including up to $50 million that may be used for letters of credit. Shares dropped 60 cents, or 1.3%, to $46.73.

Education Realty Trust(EDR Quote) slipped after the Memphis-based real estate investment trust was downgraded by RBC Capital Markets to sector-perform from outperform. Shares sank 57 cents, or 3.6%, to $15.42.

International Securities Exchange(ISE Quote) fell after the New York-based company was downgraded by Bear Stearns to peer-perform from outperform. Prudential also initiated coverage of the company with a neutral rating. Shares traded down $3.16, or 7.1%, to $41.22.