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Various Rating Actions Taken On 200 Wells Fargo Bank, South Dakota LOC-Supported Bonds Jun 09

  • ID: 1723604
  • June 2009
  • Region: South Dakota
  • Standard & Poors
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Abstract
NEW YORK (Standard & Poor's) June 30, 2009--Standard & Poor's Ratings Services today took the following rating actions on 200 bond issues supported by Wells Fargo Bank N.A., South Dakota letters of credit (LOCs): -- We lowered the ratings on 183 LOC-supported bond issues and three jointly supported bond issues and removed the ratings from CreditWatch with negative implications; -- We lowered the ratings on eight bond issues and revised the CreditWatch implications to positive from developing, where they were placed June 1, 2009; and -- We affirmed the ratings on six jointly supported bond issues and removed the ratings from CreditWatch negative, where they were placed June 1, 2009 (see list). Of the 183 LOC-supported bond issues whose ratings...

Action: Affirmed
Action: CreditWatch Update
Action: Downgraded
Action: Removed From CreditWatch

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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