E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/27/2011 in the Prospect News Convertibles Daily, Prospect News Investment Grade Daily and Prospect News Preferred Stock Daily.

DBRS: Wells Fargo unchanged

DBRS said the ratings for Wells Fargo & Co., including the AA issuer and senior debt rating, are unchanged following the release of the company's first-quarter 2011 results.

The trend is stable.

Wells Fargo reported record earnings of $3.8 billion in the quarter, a 10% increase from 1Q10, DBRS said. The company's results reflect earnings resilience and good performance across much of its franchise despite declining revenues in a difficult operating environment, especially for asset generation.

The ratings are based on a very strong broadly diversified franchise, its predictable recurring earnings, consistent management and business strategy, strong capital levels and ample liquidity, the agency added.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.