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S&P Credit Research1262 word report
published May 04, 2009
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S&P Credit Research
| Abstract: | We believe that Wells Fargo&Co.'s earnings will deteriorate given the increasing credit risks confronting the banking system as a whole. We are placing our ratings on Wells Fargo on CreditWatch Negative. We could lower the rating by one notch or more, or affirm the rating with a stable or negative outlook. On May 4, 2009, Standard&Poor's Ratings Services placed its 'AA/A-1+' counterparty credit rating on Wells Fargo&Co., as well as its 'AA+' long-term counterparty credit ratings on related entities, on CreditWatch Negative. Our 'A-1+' short-term counterparty credit ratings on subsidiary banks and the 'AAA' FDIC-insured term debt ratings are not on CreditWatch. The CreditWatch placement is part of an ongoing industry review and follows
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Wells Fargo & Co. '##/A-1+' Rating Placed On CreditWatch Negative Publication date: 04-May-2009 Primary Credit Analyst: Tanya Azarchs, New York (1) 212-438-7365; tanya_azarchs@standardandpoors.com...
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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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| Free Sample: |
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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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