NEW YORK (Standard&Poor's) Oct. 25, 2002--Standard&Poor's today revised its outlook on Wells Fargo&Co (Wells Fargo) and its units to positive from stable. Wells Fargo's ratings, including its single-'A'-plus/'A-1' counterparty credit ratings, are affirmed. The outlook revision is based on Wells Fargo's improved performance on a relative basis compared to that of its peers through the difficult economic environment thus far. "Wells Fargo's strengths, including its market position, customer focus, and diversity, should extend its track record of superior and stable earnings," said credit analyst Tanya Azarchs. "Asset quality appears to have stabilized. If that trend continues and the commercial real estate exposure does not cause significant problems, the ratings could be upgraded." A complete
