NEW YORK (Standard&Poor's) Jan. 31, 2003--Standard&Poor's Ratings Services today affirmed its ratings on U.S. Bancorp and its units, including U.S. Bancorp's 'A/A-1' counterparty credit ratings, and revised its outlook to positive. "The ratings reflect the strong profitability of U.S. Bancorp, which was maintained over the past six quarters in the face of a challenging economy and weaknesses in the commercial and corporate sector within the footprint of their 24-state banking franchise," said credit analyst Victoria Wagner. Operating with over $180 billion in total assets, U.S. Bancorp is the nation's eighth-largest financial services holding company. The company operates a banking franchise spanning from Tennessee to the West Coast. The company maintains strong market positions in several business
