TOKYO (Standard&Poor's) April 22, 2011--Standard&Poor's Ratings Services said today that the ratings on Mitsubishi UFJ Financial Group Inc. (MUFG; A/Stable/--) and its subsidiaries, Bank of Tokyo-Mitsubishi UFJ Ltd. (A+/Stable/A-1) and Mitsubishi UFJ Trust and Banking Corp. (A+/Stable/A-1), would not be affected by MUFG's plan to make Morgan Stanley an equity-method affiliate. On April 21, 2011, MUFG announced a plan to make Morgan Stanley its equity-method affiliate by converting outstanding convertible preferred stock in Morgan Stanley into common stock. The conversion will increase MUFG's ownership interest in Morgan Stanley to 22.4%. Following the financial turmoil that occurred after the collapse of Lehman Brothers Holdings Inc., MUFG invested US$9 billion in Morgan Stanley in October 2008. The investment
