Fitch affirms Wells Fargo

Fitch Ratings said it affirmed Wells Fargo & Co.'s issuer default rating at A+.

The outlook is stable.

The agency said the affirmation reflects the company's solid capital and liquidity profiles.

Fitch said that, relative to Wells Fargo's large regional bank peers, it is subject to both higher capital and liquidity requirements that provide an added layer of creditor protection and lend support to the current ratings.

“While we acknowledge the company continues to face various headwinds and the breadth of findings was beyond our expectations in fall 2017, today's rating action incorporates a view that WFC will recover from its current issues and maintain its dominant franchise over the longer-term,” the agency said in a news release.

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