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S&P Credit Research1089 word report
published Feb 09, 2009
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S&P Credit Research
| Abstract: | The ratings on Wells Fargo&Co. reflect our stand-alone credit assessment, with no uplift for government support, and the bank's role as one of the systemically important banks in the U.S. financial system. Our Dec. 19, 2008, downgrade of Wels Fargo reflected our more negative view of industry risk in a cycle we believe will be more severe than a typical one. We expect that Wells Fargo will experience lower profitability on higher credit losses and related expenses in its residential mortgage, credit card, and residential-related commercial real estate portfolios, plus the merger expenses and integration risks associated with its recent acquisition of Wachovia Corp. Nevertheless, we expect Wells Fargo to fare better than peers. Wells Fargo reported a
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Wells Fargo & Co. Publication date: 09-Feb-2009 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors.com Secondary Credit Analyst: Tanya Azarchs,...
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| Report Type: | Summary
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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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