NEW YORK (Standard&Poor's) Jan. 27, 2006--Standard&Poor's Ratings Services today raised its ratings on U.S. Bancorp, including its counterparty credit ratings, which were raised to 'AA-/A-1+' from 'A+/A-1'. Standard&Poor's also raised its long-term counterparty credit ratings on U.S. Bancorp's subsidiaries, U.S. Bank National Assn. and U.S. Bank National Assn. N.D., to 'AA' from 'AA-'. The outlook was revised to stable from positive. "The ratings upgrade for U.S. Bancorp and its units reflects the company's sector-leading core earnings performance and a consistency of performance throughout a challenging interest rate cycle," said Standard&Poor's credit analyst Victoria Wagner. "The ratings also reflect the company's lower credit risk profile, which has translated into lower credit costs and
