TORONTO (Standard&Poor's) Oct. 26, 2009--Standard&Poor's Ratings Services said today that its ratings on Capital One Financial Corp. (BBB/Negative/--) are not affected by the company's just-announced third-quarter 2009 earnings. Capital One announced pretax income of $627 million for the third quarter, which represented a rise of 95% and 4% on a linked-quarter and year-over-year basis, respectively. Included in the current results were stronger revenues, which reflect higher yields and lower noninterest expenses. The incremental increase in revenues was in part offset by linked-quarter increases in provisions for loan losses; these included a significant allowance build in the commercial lending business, which is experiencing rising nonperforming levels. We believe credit costs and asset quality remain areas of concern
