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DBRS: E*Trade unchanged
DBRS has commented on the Q3 2009 earnings of E*Trade Financial Corp., adding that it rates E*Trade's issuer and senior debt at B (high) and short-term instruments at R-4.
DBRS said it also rates E*Trade Bank at BB, noting that all ratings, except the short-term instruments of the bank, have a negative trend.
These ratings are unchanged after the earnings release.
According to the agency, E*Trade reported a net loss of $832 million in Q3 2009 driven primarily by a $773 million non-cash charge related to its debt exchange.
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