TOKYO (Standard&Poor's) Sept. 24, 2008--Standard&Poor's Ratings Services today placed its long-term counterparty credit ratings on Mitsubishi UFJ Financial Group Inc. (MUFG), Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU), Mitsubishi UFJ Trust and Banking Corp. (MUTB), and Master Trust Bank of Japan Ltd. on CreditWatch with negative implications (see ratings list below). The ratings on the companies' relevant senior unsecured debt, subordinated debt, junior subordinated debt, and preferred debt instruments were also placed on CreditWatch with negative implications. At the same time, Standard&Poor's affirmed its 'A-1' short-term counterparty ratings on MUFG's three operating entities. MUFG announced on Sept. 22, 2008, that MUFG and Morgan Stanley (MS: A+/Negative/A-1) had entered into a nonbinding letter of intent, which
