May 28 (Reuters) - Moody's Investors Service upgraded Morgan Stanley and its affiliates' baseline credit assessments to 'baa2' from 'baa3', citing the investment bank's increased business diversification and prospects for improved profitability.
Moody's also upgraded the bank's adjusted baseline credit assessment to 'baa1' from 'baa2'.(bit.ly/1Bsuv23)
As part of its reviews of 13 global investment banks' ratings, Moody's affirmed baseline credit assessments on 12 other banks. (Reporting by Anjali Rao Koppala in Bengaluru; Editing by Maju Samuel)