Standard & Poor's Ratings Services placed its 'AA+/A-1' and 'AA+' ratings on Morgan Stanley & Co. Inc. Trust (New Jersey) floater certificates and residual certificates series 2008-2959 on CreditWatch with negative implications. This action follows Standard & Poor's Aug. 4, 2010, placement of the underlying bond on CreditWatch with negative implications. The long-term component of the rating is based jointly (assuming low correlation) on the underlying bond and the guarantee from Morgan Stanley. The short-term component of the rating is based on liquidity provided by Morgan Stanley Bank N.A. USPF Criteria: Secondary Market Derivative Products, June 27, 2007...
Companies mentioned in this report are:
- Morgan Stanley & Co Inc Tr
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.