?Record of success through various stress environments ?Improved diversification of earnings, assets, and funding ?Risk-weighted capital levels ?Higher credit-risk consumer asset classes ?Credit card concentration, though diminishing ?Wholesale funding profile, though improving The ratings on Capital One Financial Corp. reflect the McLean, Va.-based company's product mix, which, while broad, focuses on higher credit-risk consumer lending, particularly credit cards; an important reliance on wholesale-sourced funding, although this aspect of the funding profile has improved; and an always-competitive operating environment. We also consider the advantages afforded by Capital One's bank franchise, a strengthening corporate governance infrastructure, historically strong capital and liquidity, and a lower-risk, long-term strategy. Capital One has broadened its product menu beyond domestic consumer credit card lending and expanded its
