Correction: Fitch Rates Morgan Stanley Dean Witter & Co.'s EUR750MM FRNs.Business Editors CHICAGO--(BUSINESS WIRE)--Feb. 5, 2001 In a press release issued by Fitch last week, the total issuance was stated incorrectly. A total of 750 million eurodollars in floating-rate notes are due in February 2004. The full correct press release follows. Fitch, the international rating agency, has assigned a rating of `AA' to Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Dean Witter may refer to:
MSDW Multi-Cast with Same Destination Wavelength MSDW Metal Studs, Dry Wall (construction) ) eurodollar floating-rate notes. A total of 750 million euro dollars with quarterly resets will be due February 2004. The ratings for MSDW reflect the firm's solid position as a leading global securities firm, its strong and stable profitability relative to its peer group, and a well- capitalized, liquid balance sheet. Profitability reflects the successful integration and complementary strengths of the two predecessor firms - Morgan Stanley Group and Dean Witter, Discover & Co. In particular the Firm's securities business has garnered leading positions in a majority of higher margin, institutional businesses and successfully levered its retail distribution capabilities. Asset management is an important contributor to overall profitability, generating relatively stable, recurring fee-based revenue that partially offset the cyclical securities business segment. Balance sheet measures remain strong as the company prudently manages its funding and liquidity profile. The firm has raised substantial long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and lengthened the debt maturity profile in order to weather periods of market illiquidity and appropriately match fund less liquid assets Cash, or property immediately convertible to cash, such as Securities, notes, life insurance policies with cash surrender values, U.S. savings bonds, or an account receivable. . Fitch expects little change in leverage ratios as capital generation remains strong through retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. . |
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