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Article Looks at Large Complex Banks in U.S. Oct 04
Standard & Poors, Oct 2004
Abstract
NEW YORK (Standard & Poor's) Oct. 4, 2004--Recognizing the strength of size, diversification, and market position, Standard & Poor's Ratings Services analysts have given large complex banks in the U.S. a range of 'A' ratings and stable or positive outlooks. The retail sector, in particular, has made a significant contribution to the success of these institutions. 'Retail has been an island of stability in this last cycle,' explained Tanya Azarchs, managing director in Standard & Poor's Financial Institutions Ratings. 'There's a renewed appreciation for retail banking because banks need branches to sell their other consumer services.' The six large complex banks rated by Standard & Poor's- Bank of America, Citigroup, JP Morgan Chase, U.S. Bancorp, Wachovia, and Wells Fargo-derived between...
Companies mentioned in this report are: Wachovia Corporation,Bank of America Corp.,Wells Fargo & Co.,U.S. Bancorp ,JPMorgan Chase & Co.,Citigroup Inc.
Action: S&P Event
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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