NEW YORK (Standard&Poor's) April 30, 2012--Standard&Poor's Ratings Services today said it applied its bank hybrid capital criteria to its rated finance companies. Under our hybrid criteria, the term "banks" includes finance companies. We raised our preferred stock ratings on Ally Financial Inc., American Express Co., and SLM Corp. We also raised our subordinated (deferrable) ratings on National Rural Utilities Cooperative Finance Corp. and our junior subordinated ratings on Nelnet Inc. (see the ratings list). RELATED CRITERIA AND RESEARCH Bank Hybrid Capital Methodology And Assumptions, Nov. 1, 2011 RATINGS LIST Upgraded To From Ally Financial Inc. Preferred Stock CCC+ CCC American Express Co. Preferred Stock BBB- BB National Rural Utilities Cooperative Finance Corp. Subordinated BBB+ BBB Nelnet
