DBRS: Morgan Stanley unchanged

DBRS said that Morgan Stanley's ratings, including the issuer and senior debt rating of A (high) and short-term instruments rating of R-1 (middle), are unchanged following the 2Q11 results.

The trend is negative.

The company reported net income applicable to Morgan Stanley of $1.2 billion, a 23% improvement over 1Q11 but down from $2 billion in 2Q10, the agency said. However, the company generated a net loss applicable to Morgan Stanley common shareholders of $558 million due to the one-time, non-cash negative adjustment of $1.7 billion related to the Mitsubishi UFJ Financial Group conversion.

Morgan Stanley had a solid quarter across its diverse business lines, despite a challenging environment characterized by political, regulatory and macroeconomic uncertainties, the agency added.

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