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S&P Credit Research725 word report
published Sep 29, 2008
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Sept. 29, 2008--Wachovia Corp. announced today that it intends to sell its retail bank, corporate and investment bank, and wealth-management businesses to Citigroup Inc. The new Wachovia Corp. will remain a public company with two main operating subsidiaries: Wachovia Securities, the nation's third-largest brokerage firm, and Evergreen Asset Management, a leading provider of asset-management services. As a result of this transaction, Standard&Poor's Ratings Services said today that it placed all its ratings on Wachovia Corp. and Wachovia Bank on CreditWatch with negative implications. Standard&Poor's also said that it lowered its counterparty credit rating on Wachovia Corp. to 'BBB-/A-3' from 'A+/A-1'. At the same time, Standard&Poor's lowered its DRD (dividends
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| Brief Excerpt: | RESEARCH Ratings Definitions Wachovia Ratings Put On CreditWatch Negative; Some Ratings Also Lowered Publication date: 29-Sep-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | WB
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| Issuer: | Wachovia Corporation
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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.
Also from S&P Credit Research
- Wachovia Corp. Upgraded, Removed From CreditWatch; Outlook Neg. After Wells Acquisition $100.00
NEW YORK (Standard&Poor's) Jan. 5, 2009--Standard&Poor's Ratings Services said today that it raised its ratings on Wachovia Corp., including raising its counterparty credit rating to 'AA/A-1+' from 'A+/A-1', and removed all ratings from CreditWatch ...
- Research Update: Wachovia Corp. Rating Raised, Removed From CreditWatch; Outlook Neg. After Wells Acquisition $175.00
On Jan. 5, 2009, Standard&Poor's Ratings Services raised its ratings on Wachovia Corp., including raising its counterparty credit rating to 'AA/A-1+' from 'A+/A-1', and removed all ratings from CreditWatch Positive where they were placed on ...
- Summary: Wachovia Corp. $175.00
Ratings on Wachovia Corp. remain on CreditWatch with positive implications because of the company's pending acquisition by higher rated Wells Fargo&Co. (AA+/Watch Neg/A-1+). The acquisition is planned to close by year-end. Wachovia's extremely ...
- Wachovia Corp. On CreditWatch Positive, Upgraded As Wells Fargo Acquisition Proceeds $100.00
NEW YORK (Standard&Poor's) Oct. 10, 2008--Standard&Poor's Ratings Services said today that it revised its CreditWatch status on Wachovia Corp. to positive from developing and raised its counterparty credit rating on Wachovia to 'A+/A-1' from ...
- Research Update: Wachovia Corp. On CreditWatch Positive, Ratings Raised As Wells Fargo Acquisition Proceeds $175.00
On Oct. 10, 2008, Standard&Poor's Ratings Services revised its CreditWatch status on Wachovia Corp. to positive from developing and raised its counterparty credit rating on Wachovia to 'A+/A-1' from 'BBB-/A-3' in reaction to Wells Fargo&Co.'s ...
- Wachovia Ratings Put On CreditWatch Negative; Some Ratings Also Lowered $100.00
NEW YORK (Standard&Poor's) Sept. 29, 2008--Wachovia Corp. announced today that it intends to sell its retail bank, corporate and investment bank, and wealth-management businesses to Citigroup Inc. The new Wachovia Corp. will remain a public ...
- Research Update: Wachovia Ratings Placed On CreditWatch Negative; Some Ratings Also Lowered $175.00
On Sept. 29, 2008, Wachovia Corp. announced that it intends to sell its retail bank, corporate and investment bank, and wealth-management businesses to Citigroup Inc. The new Wachovia Corp. will remain a public company with two main operating ...
- Research Update: Wachovia Ratings Placed On CreditWatch Negative; Some Ratings Also Lowered $175.00
On Sept. 29, 2008, Wachovia Corp. announced that it intends to sell its retail bank, corporate and investment bank, and wealth-management businesses to Citigroup Inc. The new Wachovia Corp. will remain a public company with two main operating ...
