Report title: Research Update: S&PCORRECT: Wells Fargo On Watch Negative; Wachovia Corp On Watch Developing
from S&P Credit Research
1811 word report published Oct 03, 2008

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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

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...

Report Type: Research Update
Ticker: WFC
Issuer: Wells Fargo&Co.
GICS: Diversified Banks (40101010)
Sector: Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Financial Institutions, Global Issuers, Public Finance, Residential MBS, Structured Finance
Country: United States
Region: United States
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