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S&P Credit Research8321 word report
published Feb 09, 2009
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S&P Credit Research
| Abstract: | A leading U.S. retail banking franchise for deposits and loans Strong capital management practices and discipline Lower volatility business profile and related core earnings performance Systemic importance to U.S. banking Higher exposure to residential mortgage assets in weaker housing markets Pressure on earnings and capital over the near term because of the weak credit cycle and higher loan losses Revenues concentrated in lending-related businesses 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
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| Brief Excerpt: | RESEARCH Ratings Definitions 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, New York...
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| Report Type: | Full Report
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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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