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BULLETIN: Morgan Stanley Dean Witter & Co. Announces Long-Term Debt Issuance Mar 02
Standard & Poors, March 2002
Abstract
Standard & Poor's said today that Morgan Stanley Dean Witter & Co.'s (AA-/Negative/A-1+) recent announcement that it will issue $7.3 billion of long-term debt will not affect the ratings of the company. The debt issuance will provide refinancing for a portion of the $10 billion of term debt that matures this year. Morgan Stanley will issue debt in maturities including five, seven, 10, and 30 years. The 10- and 30-year debt will help to lengthen the maturity profile of the company's total outstanding term debt of $46 billion (pro forma). With the prospect of rising interest rates and the recent tightening of corporate spreads, Morgan Stanley's debt issuance looks well timed. Morgan Stanley is a premier securities broker and investment...
Companies mentioned in this report are: Morgan Stanley
Action: S&P Event
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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