|
|
 |
|
Viewing report
|
|
|
|
Rating Actions Taken On Wells Fargo Bank N.A. LOC- And SBPA-Backed Public Finance Issues Jul 09
Standard & Poors, July 2009
Abstract
Standard & Poor's Ratings Services changed its ratings on 93 Wells Fargo Bank N.A. letter of credit (LOC)- and/or standby bond purchase agreement (SBPA)-backed U.S. Public Finance issues (see table 1). These rating actions follow Standard & Poor's June 17, 2009, downgrade of Wells Fargo Bank N.A. to 'AA/A-1+' from 'AA+/A-1+' and the removal of our rating on Wells Fargo Bank from CreditWatch with negative implications (see 'S&PCORRECT: Wells Fargo & Co. Downgraded To 'AA-/A-1+' From 'AA/A-1+'; Outlook Negative', RatingsDirect, June 17, 2009). The ratings on the 93 issues that were changed have credit and/or liquidity support provided by Wells Fargo Bank N.A. in the form of either LOCs or SBPAs, which provide for the full and timely payment of...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
|
|
|
|
