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DBRS: E*Trade unchanged
DBRS said E*Trade Financial Corp.'s issuer and senior debt rating of B (high), and deposits and senior debt rating of BB, are unaffected by the company's fourth quarter of 2010 earnings report.
All of the ratings, except its short-term instruments rating, have a negative trend.
Despite improving underlying earnings, the company reported a marginal net loss of $24 million, following two consecutive quarters of positive earnings, as an addition to qualitative reserves elevated provisioning, DBRS said.
Over the past year, the company has continued to make progress in strengthening its franchise, reducing non-core asset exposures and bolstering its capitalization, the agency said.
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