NEW YORK (Standard&Poor's) Sept. 24, 2008--Standard&Poor's Rating Services said today that there are no implications for its ratings on Capital One Financial Corp. (BBB+/Stable/--) following the company's announcement that it will be offering 14 million shares of common stock in a public secondary offering. Although Capital One has exhibited recent asset quality weakness, the extent of the deterioration remains within acceptable parameters for current ratings. The common equity raise provides additional cushion in the face of what we expect to be continued asset quality pressures as the broader economic weakness continues to pressure consumers. Capital One has historically managed its capital position prudently, and the incremental capital positions the company better either to withstand continued asset
