NEW YORK (Standard&Poor's) Oct. 13, 2003--Standard&Poor's Ratings Services today raised its counterparty credit ratings on Wells Fargo&Co. (Wells) to 'AA-/A-1+' from 'A+/A-1'. The ratings on Wells Fargo Bank N.A. San Francisco CA and other Wells bank subsidiaries were raised to 'AA/A-1+' from 'AA-/A-1+'. The outlook was revised to stable from positive. "The ratings actions recognize Wells' exceptional track record of stable earnings growth, even through a difficult economic environment," said Standard&Poor's credit analyst Tanya Azarchs. "This record rests on Wells' superior geographic and business line diversity among bank holding companies in the U.S., with a wide variety of strongly performing business lines." An innovator in the area of service delivery channels and
