S&P rates Morgan Stanley converts A+

Standard & Poor's said it assigned its A+ rating to Morgan Stanley's $150 million 0.25% notes exchangeable for the common stock of three health care companies due April 1, 2009.

"The rating relates only to Morgan Stanley's ability to perform its obligations under the notes," said S&P credit analyst Tom Foley.

The notes are convertible into a basket of shares of stock for a specified period.

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