Sen. Bayh says his retirement won't leave Democrats in a tight spot

"The party hasn't been left in the lurch. We have a real shot of winning this election and having a good senator follow me in the United States Senate. And I'm going to help that individual very vigorously," Bayh said Tuesday on CNN's "American Morning."

The two-term senator's unexpected announcement Monday gives national Republicans one of their best opportunities to take over a Democratic seat, according to independent analyses from two leading nonpartisan political handicappers.

The Cook Political Report revised its rating for the Indiana contest to "Leans Republican" shortly after news of Bayh's decision broke. The race had previously been rated "Leans Democratic." The Rothenberg Political Report modified its rating from a "narrow advantage" for Democrats to "toss-up," meaning the race could go either way.

But Bayh says he's confident that Democrats will be competitive in the contest.

"I do think we have a strong chance of being successful this fall. We've got several congressmen who are considering this race, some other substantial figures who are considering this race. The Republican Party has a five-way primary. ... I mean, they're going to be very divided before this is over. We have a chance to focus on the fall campaign. I think our candidate will start off with a monetary advantage. Indiana's a challenging state. But if we nominate the right person, I think we've got a real shot," Bayh told "American