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S&P Credit Research1811 word report
published Oct 03, 2008
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S&P Credit Research
| Abstract: | On Oct. 3, 2008, Standard&Poor's Ratings Services placed all its long-term ratings on Wells Fargo Corp. on CreditWatch negative, indicating that the ratings could be affirmed or lowered, following Wells Fargo's announcement that it plans to acquire Wachovia Corp. We have affirmed the 'A-1+' short-term ratings. At the same time, we have revised the CreditWatch listing of Wachovia Corp. to CreditWatch developing from CreditWatch negative, indicating that the ratings could either be affirmed, raised, or lowered as a result of the acquisition. The short term 'A-1+' rating on Wachovia Bank N.A. remains on CreditWatch negative. Wells Fargo has announced that it would acquire Wachovia Corp. in a stock transaction valued at $7/share. This will be an unassisted acquisition
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: S&PCORRECT: Wells Fargo On Watch Negative; Wachovia Corp On Watch Developing Publication date: 03-Oct-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors...
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| Report Type: | Research Update
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| Ticker: | WFC
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| Issuer: | Wells Fargo&Co.
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| GICS: | Diversified Banks (40101010)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | United States
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| Region: | United States
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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