NEW YORK (Standard&Poor's) July 19, 2012--Standard&Poor's Ratings Services today said its ratings and outlook on Capital One Financial Corp. (COF; BBB/Negative/--) are unchanged following its review of the company's good second-quarter 2012 earnings, which were within our expectations. The quarter did, however, include a number of one-time adjustments to earnings. The company posted Standard&Poor's adjusted pretax earnings of $236 million, significantly down from $1.26 billion the previous quarter and $1.4 billion in second-quarter 2011. The quarter's earnings included the addition of the HSBC U.S. Card portfolio, the ING Direct acquisition, and other unusual items. Total net revenue increased 2.4% from the first quarter and 26.6% year over year, led by higher earning assets resulting
