NEW YORK (Standard&Poor's) April 12, 2013--Standard&Poor's Ratings Services today said its ratings on Wells Fargo&Co. (WFC) are unaffected by the company's good first-quarter results, which were in line with our expectations. Capital continued to build, charge offs were lower than we anticipated, revenues were weaker, and the net interest margin (NIM) was slightly lower than our expectations. Our expectations for 2013 include continued headwinds in revenue growth as loan growth and NIM remain a difficulty and mortgage-related volumes and earnings fade from current elevated levels. However, earnings should continue to grow modestly with better efficiency and continued decreases in credit costs, although we believe that WFC has achieved most credit-quality improvements, especially in its
