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Moody's Investors Service raised its senior unsecured rating on discount brokerage

E*Trade Financial

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to Ba2 from B1 and its long-term deposit rating for the company's unit E*Trade Bank to Baa3 from Ba2.

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The rating outlook remains positive, Moody's said. The last rating action on E*Trade and E*Trade Bank was Sept. 29, when Moody's affirmed all outstanding ratings of E*Trade and raised the outlook on the long-term and bank financial strength ratings to positive from stable.

Shares of E*Trade fell 45 cents, or 1.9%, to $22.92 in regular trading Tuesday. After the close, the stock rebounded a bit, adding 25 cents to $23.17.