DBRS revises Wells Fargo trend to stable

DBRS said it changed the trend on Wells Fargo & Co. to stable from negative and confirmed its ratings, including the company’s AA (low) long-term issuer rating. The agency also confirmed the ratings of its primary banking subsidiary, Wells Fargo Bank, NA.

“The trend change to stable from negative recognizes the progress Wells Fargo has made resolving regulatory issues, while improving its risk management framework. Moreover, despite inflationary pressures, the company expects expenses to remain relatively flat,” DBRS said in a press release.

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