NEW YORK (Standard&Poor's) Oct. 14, 2015--Standard&Poor's Ratings Services today said that its ratings and outlook on Wells Fargo&Co. (WFC; A+/Negative/A-1) are not affected by the company's announcement that it plans to acquire approximately $32 billion in loans and leases from General Electric Capital Corp. (GECC). This acquisition includes: GECC's commercial distribution finance business (mainly dealer inventory finance), its vendor finance business (for example, private-label financing to equipment buyers), and a portfolio of middle-market senior-secured asset-based loans and equipment leases. Although we believe these commercial finance assets could be generally somewhat riskier than WFC's commercial assets, WFC will mark to market these assets upon acquisition, thereby creating a likely appropriate credit cushion. We also believe
