NEW YORK (Standard&Poor's) Dec. 1, 2006--Standard&Poor's Ratings Services said today that it upgraded Capital One Financial Corp. (Capital One) and its subsidiaries, including raising its long-term counterparty credit rating on Capital One to 'BBB+' from 'BBB'. The short-term ratings on Capital One's subsidiaries remain at 'A-2'. Capital One does not currently have a short-term rating. The ratings were removed from CreditWatch with positive implications, where they were placed March 13, 2006. The outlook is positive. At the same time, Standard&Poor's affirmed and subsequently withdrew its 'BBB+/A-2' ratings on North Fork Bancorp. "The rating actions follow the close of the acquisition of North Fork Bancorp and reflect Capital One's success in integrating Hibernia Corp. and
