While Moody’s revised ratings are better than its initial guidance of up
to three notches, we believe the ratings still do not fully reflect the
key strategic actions we have taken in recent years. However, their
acknowledgment of our long-term partnership with MUFG as well as our
industry-leading capital and liquidity highlight some of the
transformative steps we have taken. With our de-risked balance sheet,
stable sources of funding, diverse business mix and strong leadership
team, we are well positioned to deliver for clients and shareholders.
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providing a wide range of investment banking, securities, investment
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individuals from more than 1,300 offices in 43 countries. For further
information about Morgan Stanley, please visit www.morganstanley.com.