Fitch cuts ratings on Morgan Stanley
Fitch Ratings on Monday cut its long-term issuer default rating on Morgan Stanley and said it expects the current stresses on the bank's core businesses to continue for some time.
Fitch Ratings has downgraded the ratings of Cathay General Bancorp and its bank subsidiary, Cathay Bank, and has removed the ratings from Rating Watch Negative; placed on May 28, 2009.