Exclusive: Wells Fargo account scandal extends to small business - U.S. senator
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Fitch Lowers Outlook on Wells Fargo (WFC) to Negative; Ratings Affirmed
October 4, 2016 2:26 PM EDTFitch Ratings has affirmed Wells Fargo & Company's (NYSE: WFC) ratings at 'AA-/F1+' and Wells Fargo Bank, N.A.'s ratings at 'AA/F1+'. The Rating Outlook is revised to Negative from Stable.
The affirmation reflects the company's superior earnings profile, strong liquidity, and still benign asset quality, while the Outlook revision reflects potential damage to the firm's franchise and earnings profile following recent regulatory actions regarding improper unauthorized account openings.
The rating action follows a periodic review of the large regional banking group, which includes BB&T Corporation (BBT), Capital... More
