NEW YORK (Standard&Poor's) Jan. 30, 2004--Standard&Poor's Ratings Services said today that it affirmed its ratings on Capital One Financial Corp. (NYSE: COF; BB+/--) and its subsidiaries. At the same time, the outlook on the ratings was revised to stable from negative. This action follows the company's announcement that the Federal Reserve Bank of Richmond, the Office of Thrift Supervision, and the Bureau of Financial Institutions of the Commonwealth of Virginia have terminated the informal memorandum of understanding (MOU) that has been in place since August 2002. The MOU addressed certain financial and governance and control issues. Capital One satisfactorily addressed the financial stipulations in short order; however, the governance and control issues required more time as
